SW acted as legal advisers to Morris Holdings Limited (Stock Code: 1575) (“Morris”) to list on the Main Board of The Stock Exchange of Hong Kong Limited (the “Stock Exchange”).
The shares were listed on the Stock Exchange on 12 January 2017. 250 million shares were offered, among which 225 million were offered for international placing. The final offer price was HK$1.05 per offer share and the net proceeds amounted to approximately HK218.6 million.
Morris principally engages in the manufacturing of sofas and sofa covers in the PRC with an integrated design, manufacturing, sales and marketing operation through OEM, ODM and OBM business models. Morris is one of the leading and long established manufacturers of sofas and sofa covers in the PRC sofa export industry, and is one of the top three PRC upholstered sofa manufacturers in terms of export value to the U.S. in 2015. Morris sells a wide range of sofas including stationary sofas and motion sofas under the brand “Morris Holdings Limited” and sofa covers predominantly to overseas markets including the U.S., Canada, United Kingdom, Australia, Ireland and Korea and other furniture products domestically in its direct sale stores under the brand “Morris Zou”.
Photo of our Rodney Teoh (on the left) and Mr. Zou Gebing, Chairman of Morris Holdings Limited (on the right)
Please contact our Eric Lui or Rodney Teoh for any enquiries or further information about this transaction.