28 Feb 2023



On 20 February 2023, the Securities and Futures Commission (the “SFC”) issued a consultation paper on proposed regulatory requirements for virtual asset trading platform operators licensed by the SFC (the “Consultation Paper”). The Consultation Paper is a follow-up consultation of the Anti-Money Laundering and Counter-Terrorist Financing (Amendment) Bill 2022 (the “Bill”) which was gazetted in June 2022 and passed in December on the same year, introducing a new licensing regime for virtual asset service providers (the “AMLO VASP regime”) (see our news update on the Bill). The Consultation Paper further explains and sets out the proposed changes in regulatory requirements and proposed transitional arrangements under the regime for centralised virtual asset trading platforms (the “VA Trading Platforms”) trading non-security tokens coming into effect on 1 June 2023. Industry and public proposals are invited on the applicable regulatory approach. The public comment period ends on 31 March 2023.

27 Feb 2023

Partner Heidi Chui Named “ALB Top 15 North Asia Litigators 2023”

Asian Legal Business (ALB) recently published the “ALB Top 15 North Asia Litigators 2023“. Our Partner, Head of Litigation and Dispute Resolution Department, Ms. Heidi Chui, has been named one of the “ALB Top 15 North Asia Litigators 2023″ for her outstanding professional performance and reputation amongst clients and peers.

23 Feb 2023

Stevenson, Wong & Co. advised Jiangxi Pharmaceutical Investment Co., Ltd. on its acquisition and unconditional mandatory cash offer of issued shares of Charmacy Pharmaceutical Co., Ltd.

Stevenson, Wong & Co. acted as Hong Kong legal advisers to Jiangxi Pharmaceutical Investment Co., Ltd. (the “Offeror”) in relation to (i) the acquisition of 9.0% (the “Acquisition”) of the entire issued share capital of the Charmacy Pharmaceutical Co., Ltd., a joint-stock company established in the PRC listed on The Stock Exchange of Hong Kong Limited (stock code: 2289) (“Charmacy”) with a consideration of HK$70,858,000 and (ii) the unconditional mandatory cash offer (the “Offer”) by the Offeror to acquire all the issued shares of the Company.

3 Feb 2023

Stevenson, Wong & Co. advised Neo-Concept Group in its issuance of non-convertible redeemable preference shares to VIAM

Stevenson, Wong & Co. acted as Hong Kong legal advisers to the Neo-Concept Group in relation to the issuance of non-convertible redeemable preference shares for a total consideration of US$15,000,000 to VIAM, including its affiliates.

The Neo-Concept Group is founded and led by Ms. Eva Siu. It is a leading Hong Kong headquartered sustainable fashion designer and manufacturer for international brands and retailers. They have achieved multiple industry sustainability certifications such as Global Recycle Standard, Organic Content Standard, Responsible Wool Standard, OEKO-TEX and the HIGG Index.

The VIAM Group was established in 2016 as an independent asset management platform. Currently, VIAM has AUM of approximately $11.3 billion (as of 31 December 2021) with offices in Hong Kong, Singapore, Seoul, Shanghai and Shenzhen.

Our team was led by our Partner Mr. Rodney Teoh, supported by team members including Associate Ms. Angela Lau and Trainee Solicitor Ms. Jess Chung.

Please contact our Partner Mr. Rodney Teoh for any enquiries or further information.