Appleby's Hong Kong office acted as Cayman Islands counsel to Datang Group Holdings Limited (Datang) in relation to its listing on the Main Board of the Hong Kong Stock Exchange on 11 December 2020, with gross proceeds of approximately HKD1.48 billion.
Datang is a property developer in China focused on the development of residential and commercial properties in selected economic regions. The Company has expanded its business into principally six economic regions in China. In 2020, the Company was ranked 88th among the Top 500 Real Estate Property Developers in China in terms of comprehensive strength by China Real Estate Association and China Real Estate Appraisal Center.
The Company intends to use the net proceeds from the Global Offering primarily for financing its existing projects, including the construction costs of several property development projects, with the remainder to be used for financial repayments and general business operations.
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