12 December 2019 - Article
International law firm Withers has represented Lever Style Corporation (Stock code: 1346) on its listing on the Main Board of the Hong Kong Stock Exchange (“SEHK’).
Lever Style is the apparel engine behind digitally native and conventional premium fashion brands. It provides end-to-end supply chain solutions for notable brands across the US, Europe and APAC, such as “All Saints”, “Boden”, “Theory”, “Vince” and “Vineyard Vines”. The Group intends to expand its apparel category portfolio through acquisitions that can enhance its versatility and profitability by achieving synergies such as cross-selling and development of hybrid products with higher growth potential.
The Sponsor of the Global Offering was Altus Capital Limited, with Crosby Securities Limited as the Sole Global Coordinator. Joint Bookrunners and Joint Lead Managers included Crosby Securities Limited, China Tonghai Securities Limited, Shanxi Securities International Limited and CMBC Securities Company Limited.
Mike Suen, Partner at Withers’ Hong Kong office and Head of the Hong Kong capital markets team, led the deal, with support from associates Howard Wong, Bobby Fung and Lillian Chan.
Mike commented: “I am pleased to have advised on the IPO and see that the public offer tranche was over-subscribed by more than 30 times. Lever Style is an evolving company which is rapidly expanding in the ever-changing apparel industry, and this IPO will help to generate cash flow and create value for investors. We are fully confident that the company will seek further opportunities through acquisitions and other relevant ventures in order to develop its business across Asia.”
Mabel Lui, Head of the Greater China Commercial practice at Withers, added: “We have built and developed a market-leading corporate and commercial practice at Withers. Our lawyers are well-equipped and offer high levels of expertise across a full range of areas including investments, divestments, fund raising, licensing and regulatory compliance.”