FOR IMMEDIATE RELEASE
Edwin Kwok & Co (“EKC”) served as the US legal adviser to the placing agents on therecent share placement of 264,000,000 new shares in XtalPi Holdings Limited (“XtalPi”; HK:2228). The placement raised approximately US$145 million for XtalPi. The net proceeds of the pacing will be primarily used to fund product iterations and upgrades, commercialization efforts, external collaborations, market expansion, talent acquisition, and general corporate needs.
XtalPi is a quantum physics-based, AI-powered, and robotics-driven, innovative R&D platform. It is the first Specialist Technology Company listed under Chapter 18C of the Hong Kong Listing Rules, marking a significant milestone in the history of Hong Kong IPOs.
EKC is also pleased to announce that it recently served as the legal adviser to the placing agent in the recent successful placement of new shares by Adtiger Corporations Limited (“ADTIGER”; HK:1163). The placing represents approximately 20% of the total number of shares in issue immediately before the completion of the placing, and approximately 16.7 % of the enlarged issued share capital of ADTIGER immediately following completion of the placing. ADTIGER intends to apply the net proceeds from the placing to strengthen and improve the services of its AdTensor platform and for general working capital purposes.
ADTIGER is a global intelligent digital marketing service provider.
“We are honored to be selected as the counsel for the placing agents in these significant transactions,” said Edwin Kwok, Founder and Managing Partner at EKC, “our team is committed to delivering exceptional legal support and ensuring the seamless execution of these deals.” “The success of both placements not only underscores the two companies’ potential but also highlights EKC’s expertise in advising on major capital markets transactions,” said Iris Leung, partner at EKC.
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.
