Recent deal highlights Cains' BVI capability
16th January 2006
Cains’ London office has recently been involved in a BVI reorganisation facilitating the AIM admission of China Shoto plc. China Shoto plc is the holding company of a PRC based Group which is which the leading Chinese producer of industrial batteries and power supply systems.
The admission to AIM was completed on 6 December 2005. On admission China Shoto plc had 20 million shares in issue, which at the placing price of 130 pence gave a market capitalisation of £26 million.
Daniel Mackelden of the Cains’ London office advised on matters of BVI law. Lead counsel for the company was Richards Butler and Norton Rose advised the Nominated Adviser – Seymour Pierce.
Commenting on the transaction, Daniel Mackelden said “Given that many corporate service providers on the Island manage and administer BVI companies we are hoping that the provision of BVI legal services by Cains will be of interest locally.”
Andrew Corlett, Managing Director of Cains also commented that “We have seen a considerable amount of interest in AIM listings this year involving Manx companies. Our corporate department has been involved with 12 listing related deals in 2005. Several more listings are already in the pipeline for 2006. Our additional involvement from a BVI perspective on such deals will no doubt strengthen our product offering in this area.”
For further information please contact Daniel Mackelden. |
