News & Insights

Deacons advises on GEM IPO of Asia Grocery Distribution

Deacons has advised Asia Grocery Distribution Limited in relation to its listing on the Growth Enterprise Market (GEM) on the Hong Kong Stock Exchange by way of share offer, seeking to raise up to HK$81.2 million (subject to the offer size adjustment option).

Asia Grocery Distribution is an established food and beverage grocery distributor in Hong Kong with over 40 years of experience since its original “Hung Fat Ho” grocery store was established in the 1970s.

Asia Grocery Distribution published its prospectus on 31 March 2017. Dealings in its shares are expected to commence on 13 April 2017.

Deacons’ team is led by corporate finance partner Kelvan Cheung.

Deacons has advised on several GEM IPOs recently including Somerley Capital Holdings, OOH Holdings, CISI Financial and Golden Power.

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