AllBright advises IKEA supplier listing in Taiwan

AllBright advises IKEA supplier listing in Taiwan

AllBright Law Offices advised on the first listing by an overseas company in Taiwan for more than a year and was the only mainland Chinese law firm working on the deal.

The issuer was FY Group, which manufactures furniture products for big retailers such as Ikea and Costco. Nine million shares were on offer at NTD40 each and NTD360 million (USD12.3 million) was raised in the IPO.

The AllBright team included partner Michael Pan, counsels Guo Minmin, Helen Han and Tao Guanwei who advised on PRC law.

Taiwan-based Chien Yeh Law Offices, led by partner-in-charge Gary Hung, advised the issuer on local law.

Ogier advised the issuer on Cayman Islands and British Virgin Islands laws.

KPMG Law Firm’s Taiwan office counselled underwriters SinoPac Securities, CTBC Asia and E.Sun Securities.

FY Group is a major Taiwan-funded company operating in China with 60% of its products sold to the US. The company is setting up a new factory in Thailand to avoid any negative impact from US-China trade tensions. The factory is expected to be operational in Q4 this year.