Holly is first futures trading firm to offer A+H shares

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Holly is first futures trading firm to offer A+H shares
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Hong Kong-listed Holly Futures raised RMB187 million (USD28 million) from its IPO on the Shenzhen Stock Exchange, becoming the first futures trading company to go public in both Hong Kong and mainland China bourses.

The issuer turned to Jingtian & Gongcheng as PRC counsel, Harneys as Cayman Islands counsel and Chungs Lawyers, an association with DeHeng Law Offices, as Hong Kong counsel.

Jingtian & Gongcheng was led by partners Bai Wei and Xia Xue.

Partners Ernest Chung and Stephen Kei led Chungs’ team.

China Securities acted as the underwriter.

Holly Futures ranks as the fourth futures company on the A-share market since the Chinese watchdog allowed such entities to list in October 2014.

Due to the monotonous business and low revenue in China’s immature futures market, few companies of this kind had secured listing approval.

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