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Leading offshore firm Appleby acted as Cayman counsel for Maxclean Holdings Limited on its proposed listing in the United States, with a value of over US$12 million. The shares will be listed on the Over-the-Counter Bulletin Board (“OTCBB”), which is a regulated quotation service that displays real-time quotes, last-sale prices and volume information in over-the-counter (“OTC”) equity securities.
Getting listed on the OTCBB will offer public companies higher profile and visibility as well as access to capital for growth with opportunities to raise funds both at the time of listing and at later stages.
The Appleby team was led by Judy Lee, a Corporate Partner in Appleby’s Hong Kong office, assisted by Associate, Tiffany Chan. Norton Rose acted as US counsel for the Company. Judy Lee commented “We are delighted to advise on this successful transaction given the current challenging environment of the US stock market. Listing on the OTCBB represents a new win-win opportunity for Chinese clients to raise funds in the United States and for US investors to tap into the growing Chinese market. We look forward to seeing more of similar listings in the near future."
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