FOR IMMEDIATE RELEASE
Edwin Kwok & Co (“EKC”) is pleased to announce its successful representation of Home Office Development Limited (“HODL”) in its recent acquisition of the controlling stake in Howkingtech International Holding Limited (“Howkingtech”), a company listed on the Main Board of the Hong Kong Stock Exchange (2440.HK). HODL is wholly owned by Mr. Chan Chin Ching (Ray), the CEO and co-founder of 9GAG and Memeland. 9GAG is one of the world’s top three social media platforms in the humor category according to similarweb.com, while Memeland is a Web3 venture studio building and investing in content, community, and culture.
The acquisition represents over 70% of the total issued shares in Howkingtech, which triggered a change of control in Howkingtech and, as a result, HODL is required to make an unconditional mandatory general offer for all outstanding shares of in Howkingtech pursuant to the Hong Kong Code on Takeovers and Mergers. The total maximum consideration of the acquisition and the offer is approximately HK$200 million (or approximately US$25.64 million).
EKC represents HODL in both the acquisition and the offer. This transaction showcases our firm’s deep expertise in Hong Kong’s capital market transactions and our ability to navigate the diverse regulatory landscapes.
Our Founder and Managing Partner, Edwin Kwok, who led this transaction, commented: “We are delighted to have assisted Ray in this significant acquisition. This deal highlights our firm’s strength in handling sophisticated public M&A transactions in Hong Kong’s complex regulatory landscapes.”
EKC team is led by Edwin Kwok, and includes our consultants Lillian Cheung and Yuki Tsang.
Edwin Kwok & Co focuses on a full range of corporate, capital markets, mergers and acquisitions, private equity, and regulatory matters. With combined U.S., Hong Kong and English law capabilities, we provide integrated, comprehensive and innovative solutions on a wide variety of matters globally.
