22 Apr 2024

THE SECURITIES AND FUTURES COMMISSION PUBLISHED CIRCULAR ON SFC-AUTHORISED FUNDS WITH EXPOSURE TO VIRTUAL ASSETS

On 22 December 2023, the Securities and Futures Commission (the “SFC”) published a Circular on SFC-authorised funds with exposure to virtual assets (the “Circular”) to set out the requirements that the SFC would consider in authorising investment funds with exposure to virtual assets (“VA”) of more than 10% of their net asset value (“NAV”) for public offerings in Hong Kong. This Circular supersedes the circular on VA futures exchange traded funds (“ETFs”) issued on 31 October 2022.

18 Apr 2024

Stevenson, Wong & Co. advised Spartan Capital Securities, LLC on the successful listing of Junee Limited (NASDAQ: JUNE) on the Nasdaq Capital Market

Stevenson, Wong & Co. acted as the Hong Kong legal adviser to Spartan Capital Securities, LLC (“Spartan Capital Securities”), the underwriter of Junee Limited (NASDAQ: JUNE) (“Junee”) in the successful listing on the Nasdaq Capital Market on 17 April 2024 (the “Nasdaq Listing”). Junee offered a total of 2,000,000 Ordinary Shares, priced at US$4.00 per share. The aggregate gross proceeds from the Offering will be US$8 million.