Stevenson Wong & Co. attended Allbright Annual M&A Conference 2014

SW partner Mr. Eric Lui, attended the Annual Merger and Acquisition Conference in Shanghai organised by the M&A Committee of Allbright Law Offices on 27 December 2014. The Conference covered review of the M&A business of Allbright in 2014, topical presentations by lawyers and representatives from investment banks and case studies. Our Eric Lui delivered a presentation on the topic of reorganisation for domestic enterprises for overseas listing. Eric gave a brief introduction of the requirements and procedure for listing on The Stock Exchange of Hong Kong. He also talked about issues on regulatory approval and tax in connection with the “red-chip” mode, and legal issues in respect of the issuance of H shares.

Please contact our Eric Lui for any enquiries or further information about this event.

Stevenson, Wong & Co. assisted Smartac Group China Holdings Limited (395.hk) in its placing of 300 million new shares on HKEx

SW assists Smartac Group China Holdings Limited (Stock Code: 395) (the “Company”, together with its subsidiaries the “Group”), a company listed on the Main Board of The Stock Exchange of Hong Kong Limited, in its issue and placing of 300,000,000 new shares at the placing price of HK$0.31 per placing share. The placing was completed on 23 December 2014.

Orient Securities (Hong Kong) Limited acted as the placing agent and Orient Capital (Hong Kong) Limited acted as the financial adviser in this placing.

The Group is one of the largest zirconium chemicals manufacturers and exporters in the PRC and has diversified its business into new energy-related business and the O2O (online to offline) market.  SW acted as the Hong Kong legal adviser for the Company.

Please contact our Hank Lo for any enquiries or further information about this transaction.

Super-rich Chinese considering emigration

According to a recent global poll of two thousand high net worth individuals (total net worth in excess of US$1.5 million per individual) conducted by Barclays Wealth, 47% of super-rich Chinese nationals plan to emigrate within the next 5 years. Their main reasons include superior overseas educational and employment opportunities for their future generation. 30% of the Chinese respondents stated Hong Kong is their preferred destination followed by Canada at 23%.

In the same poll, 16% of the super-rich in Hong Kong plan to emigrate within the next 5 years (of which 44% choose Singapore as their destination whilst 31% prefer relocating to Mainland China).

(Source: http://www.thestandard.com.hk/news_detail.asp?we_cat=11&art_id=149482&sid=42991077&con_type=1&d_str=20140916&fc=2)

Stevenson, Wong & Co. attended the 7th Annual Wealth Management and Private Banking Asia 2014 in Shanghai

On 17 and 18 December 2014, our China Business Development Officer (China) Ms. Connie Yeung was invited to attend the 7th Annual Wealth Management and Private Banking Asia 2014 in Shanghai. The event was organized by the Shanghai Finance Academy of the People’s Bank of China and the China Academy of Financial Research of Shanghai Jiao Tong University and co-organized by Shine Media.

Mr. Wang Yanxiu, officer of the Innovation Supervision Department of the China Banking Regulatory Commission, Mr. Nicholas Hadow, Chairman of the Investment Management Association of Singapore, Mr. Kaven Leung, Deputy Chief Executive Officer Asia of Julius Baer, Mr. Jonathan Hubbard, Managing Director, Head of Wealth Planning, APAC of UBS Wealth Management, Ms. Shi Liya, Deputy Director of the Cross Border RMB Business Department of the People’s Bank of China, Mr. Rupert Hoogewerf, Hurun Report Chairman and Chief Researcher and other guests attended the conference and discussed key issues, including opportunities from China’s financial reform, research reports of China’s High Net Worth Individuals(“HNWI”), Foreign Account Tax Compliance Act of the United States (“FATCA”) and FATCA’s impact to China’s HNWI, trends of wealth management of HNWI and the development of private banking business and family offices.

The participants were interested in the professional legal services provided by SW, including overseas listing, banking, financing and cross-border litigation as well as our practical experience and solution in family dispute for HNWI, overseas trusts and immigration. Coupled with our membership with Interlaw and alliance with AllBright, the participants believed that our firm could provide practical solutions in various areas for HNWI.

Please contact our Eric Lui for any enquiries or further information about this event.

Canada halts visa-free policy for St. Kitts passport holders

In November 2014, the Canadian government changed its visa-free entry policy for St. Kitts passport holders. The change in the policy is thought to be related to security concerns raised by Department of the Treasury of the United States in May 2014 on travellers evading US or international sanctions. However, this has caused disturbance to the usual travel routines for　“astronaut” fathers. These fathers have work mostly based in other countries while their wives and children live in Canada. They often hold St. Kitts passports for the ease of entry into Canada. The recent halt of the visa-free policy has certainly affected the travel arrangements of the fathers in this situation.

(Source: http://www.scmp.com/comment/blogs/article/1659290/trouble-paradise-chinese-astronaut-dads-caught-st-kitts-passport)

Stevenson, Wong & Co. attended the Christmas Quiz organised by The Hong Kong Family Law Association

SW partner Ms. Wendy Lam attended the annual “Christmas Quiz” at the Hong Kong Club organized by The Hong Kong Family Law Association (“HKFLA”) on 9 December 2014.

Ms. Lam, who had been the Honorary Secretary of The Committee of the Hong Kong Family Law Association for over the last 10 years, decided to step down this year and enjoyed the event as an ordinary member. This HKFLA Christmas Quiz is an event which many matrimonial practitioners look forward to attend every year. All participants were quizzed about their knowledge on the family law and the “Court of Appeal” this year comprised Mr. David Pilbrow SC who was responsible for determining the best answer.

Please contact our Wendy Lam for any enquiries or further information about this event.