Bird & Bird advises CGS International Securities Singapore on Share Placement by Ever Glory United Holdings
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Senior Associate
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I am a senior associate in Bird & Bird ATMD's Corporate & Commercial Group, based in Singapore. My key areas of practice include equity capital markets and mergers and acquisitions.
International law firm Bird & Bird advised CGS International Securities Singapore Pte. Ltd., acting as the sole placement agent, in the successful share placement by Ever Glory United Holdings Limited, a company listed on the Catalist Board of the Singapore Exchange (SGX-Catalist).
The placement raised gross proceeds of approximately $17.05 million and saw participation from institutional and accredited investors, including ICHAM Master Fund, Amova Asset Management, Lion Global Investors Limited, Ginko-AGT Global Growth Fund, Asdew Acquisitions Pte Ltd, and Azure Capital Pte Ltd.
Ever Glory United Holdings Limited is a leading Singapore-based provider of mechanical and electrical engineering services. The net proceeds from the placement will be used for general working capital and partial payment for Ever Glory’s acquisition of Guthrie Engineering (S) Pte. Ltd.
CGS International Securities Singapore, a major investment house with access across 15 markets and serving close to 18 million customers in East and Southeast Asia, was advised by Bird & Bird’s Corporate team in Singapore comprising Marcus Chow (Partner), Tan Xing Yi (Senior Associate), and Karen Ho (Associate).
Commenting on the transaction, Marcus Chow, Partner at Bird & Bird, said:
“With the uptick in the Singapore equity markets, we expect more companies to raise capital through both primary and secondary offerings. Singapore’s market revival and growing appeal to investors are underscored by Bloomberg’s recent ranking, which places it ninth globally among the busiest IPO destinations, with US$1.44 billion (S$1.86 billion) raised.”