09 04 2016

Rongsheng Asset Management invests HK$1.13 billion in Addchance Holdings

Deacons has advised Rongsheng Asset Management on its acquisition of a HK$1.13 billion stake in Addchance Holdings via subscription of new shares and application for whitewash waiver.


Rongsheng Asset Management is an indirect wholly-owned subsidiary of Zhongrong International Trust. Zhongrong International Holdings Limited operates in equity investment as well as provides asset management and business advisory services. The company was incorporated in 2014 and is based in British Virgin Islands. Addchance Holdings is a leading textiles and garment manufacturer listed on the Hong Kong Stock Exchange. The Deacons team advising on the transaction included partners Ronny Chow (Picture)  and Ronnie Bow alongside senior associate Canny Lau and associate Veronica Hui. Involved fees earner: Ronny Chow - Deacons; Ronnie Bow - Deacons; Canny Lau - Deacons; Veronica Hui - Deacons;

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