The IPO raised HK$449.7 million, facilitating Fulum’s expansion plans. Timing proved difficult when widespread tainted cooking oil incidents in Asia grabbed world headlines, the Chinese government's anti-corruption drive slowed the restaurant trade, and the “occupy central” movement shut down parts of Hong Kong for weeks during the deal. Our experienced Hong Kong capital markets team tapped into our solid restaurant IPO knowhow and steered the deal successfully through these challenging events.
Fulum IPO raises funds to grow restaurant chain in China
Our client, Fulum Group, a well-known Hong Kong restaurant chain, completed its initial public offering on the Main Board of the Hong Kong Exchange.