Slaughter and May advises Citi on the HK$2.4 billion primary placing by Man Wah
Slaughter and May, Hong Kong, advised Citigroup Global Markets Limited, as the placing agent, in relation to the primary placing of 150,000,000 new shares in Man Wah Holdings Limited (Man Wah). The net proceeds from the placing are approximately HK$2.4 billion. Man Wah intends to use the net proceeds from the placing for the expansion of its manufacturing facilities in China, digitising new retail business, increasing the number of its stores, and general corporate purposes. The placing was completed on 22 January 2021.
Man Wah is a leading furniture manufacturer principally engaged in the research, development, production, sale, and related services of sofas, panel furniture, and furniture accessories. Man Wah has been listed on the Main Board of the Stock Exchange of Hong Kong since 9 April 2010.