We advised the controlling shareholder of HK Asia Holdings Limited (港亞控股有限公司) (stock code: 1723) (the “Company”) in relation to the disposal of his controlling stake in the Company, and also advised the Company as the offeree company regarding the mandatory unconditional cash general offer made on behalf of the new investors to acquire the entire issued share capital of the Company pursuant to the Hong Kong Code on Takeovers and Mergers (the “Offer”). The deal also involved a proposed issue of convertible notes by the Company to the new investors. The Offer was successfully closed on 14 March 2025.

The Company, together with its subsidiaries, is principally engaged in the wholesale and retail sales of pre-paid products (such as subscriber identification module (SIM) cards and top-up vouchers) in Hong Kong, and intends to explore investment opportunities relating to cryptocurrencies and blockchain projects following the close of the Offer.

Our ability to steer through intricate legal and regulatory issues involved in public M&As, along with our seamless coordination with other professional parties and swift responses to regulators, have been pivotal in bringing this deal to a close within a tight timeframe. Building on our role in advising the Company on its successful listing on the Main Board of the Hong Kong Stock Exchange in 2018, we are pleased to have supported our valued client in achieving yet another significant milestone as it embarks on a new chapter of development. The deal underscores our commitment to providing strategic guidance and unwavering support to help our clients navigate the opportunities and challenges that lie ahead.

Our team was led by partner Mr. Simon Siu and assisted by senior associate Mr. Olson Lai, associates Mr. Marco Chong and Ms. Sherrie Ma, and trainee solicitors Mr. Andes Leung and Ms. Janice Leung.