DeHeng Advised Pizu Group on Transitioning from GEM to Main Board Listing Under New HKEX Rules

2025-02-18

DeHeng’s Hong Kong and Shenzhen offices recently assisted Pizu Group Holdings Limited (GEM stock code: 8503.HK) in completing its transition from the Growth Enterprise Market (GEM) to the Main Board of the Hong Kong Stock Exchange (HKEX) under Chapter 9B of the Main Board Listing Rules. Trading of Pizu Group’s shares on the Main Board commenced at 9 am on February 18, 2025, under the new stock code 9893.HK. The company’s board believes that this transition will benefit future growth and align with the interests of both the company and its shareholders. Pizu Group is among the first companies to apply for the new streamlined transfer mechanism introduced by HKEX in 2024, making it the first GEM-listed company to complete the transition under the new rules. This milestone not only marks significant progress for Pizu Group but also serves as a positive example of reform within the Hong Kong capital market.

For this project, DeHeng formed a joint team providing comprehensive domestic and overseas legal services for financial advisors: partners Samuel Ng, Boaz Cheung, and Crystal Wong of the Hong Kong Office led the local legal work, and partner Wang Yang of the Shenzhen Office assisted financial advisors in conducting domestic and overseas independence verification and provided legal opinions on mainland matters.