Drew & Napier acted as legal adviser on Singapore law to Tam Jai International Co. Limited in its Initial Public Offering on the Main Board of the Hong Kong Stock Exchange
08 Oct 2021
Director Gary Wan and team comprising Senior Associate Ervin Seng and Associate Joel Ng acted as legal adviser on Singapore law to Tam Jai International Co. Limited, a Hong Kong-based F&B company, in its Initial Public Offering on the Main Board of the Hong Kong Stock Exchange (“HKEX”).
The offering is a global offering, and the company is offering 335 million new shares at a price of HK$3.33 per share. Trading of its shares commenced on 7 October 2021, and the company raised about HK$1 billion from the offering (equivalent to approximately S$180 million) after deduction of the relevant listing expenses.
Tam Jai is a restaurant chain operator of the leading and renowned TamJai and SamGor branded fast casual restaurants. The restaurants have over 24 and 12 years of history respectively and have successfully established a strong reputation in Hong Kong’s food culture for providing quality and tasty MiXian. Aside from its operations in Hong Kong, it also operates 3 restaurants in Singapore and intends to open another 24 restaurants in Singapore in the next 3 years. Tam Jai also intends to use the proceeds from the global offering to enter the Japan and Australia markets in the next few years.