Harneys advises Migao Group Holdings Limited on its Hong Kong IPO
Harneys acted as Cayman Islands legal counsel to Migao Group Holdings Limited, a potash fertiliser company, on its successful initial public offering with an offering size of HK$918 million (approximately US$118 million). Its shares were listed and commenced trading on the Main Board of the Hong Kong Stock Exchange on 21 March 2024.
Migao Group Holdings is one of the largest potash fertiliser companies, in terms of sales volume of potash fertilisers in China, with comprehensive sourcing, manufacturing, processing, and selling capabilities offering various potash fertiliser products, including KCL, SOP, NOP, and compound fertilisers. Potash fertiliser is essential for crop production and is, therefore, an integral part of the agriculture sector in China, which is one of the largest and most important industries in China.
The Harneys team was led by Partner Raymond Ng and Counsel Denise Chan. Raymond commented: “We are pleased to have advised our long-standing client Migao on its successful listing, one of the largest Hong Kong IPOs this quarter. We wish Migao all the best in its plans to use the proceeds to enhance its production facilities and expand its research and development capabilities.”
The Corporate team at Harneys advises on complex cross-border transactions involving British Virgin Islands, Cayman Islands, Luxembourg, and Cyprus corporate vehicles. The team’s significant track record includes advising on high-profile private equity transactions, landmark IPOs, as well as public and private M&A and joint ventures. The firm’s expertise lies in advising entities listed or listing on all major stock exchanges, including the New York Stock Exchange, NASDAQ, the London Stock Exchange, AIM, the Hong Kong Stock Exchange, the Shanghai Stock Exchange, and the Luxembourg Stock Exchange.
