CROSSTEC Group Prices IPO and Lists on the Hong Kong Stock Exchange
On September 12, 2016, CROSSTEC Group Holdings Limited, an interior design company, listed its IPO on the Main Board of the Stock Exchange of Hong Kong. A total of 600,000,000 shares were issued and priced at HK$0.15 each, raising approximately HK$90 million. The company's shares have been oversubscribed by approximately 1,695 times of the total number of shares initially available for subscription under the public offer. Wilson Sonsini Goodrich & Rosati acted as the Hong Kong counsel to CROSSTEC Group in connection with the IPO.
CROSSTEC Group is the largest Hong Kong-based luxury retail interior designer based on revenue in 2015. The company serves a global client base, with footprints in various parts of the world, including Hong Kong, China, the United States, Europe, the Middle East, and other Asian countries.