Press //
HWB advised on the dual listing of Centurion Corporation Limited
Submitted by // C C Tan, Partner
12 December 2017

Howse Williams Bowers ("HWB"), a leading Hong Kong independent law firm, acted as the legal adviser to the sole sponsor, the joint global coordinators, joint bookrunners, joint lead managers and the underwriters in relation to the approximately HK$114 million share offer and dual listing of Centurion Corporation Limited (SEHK Stock Code: 6090; SGX-ST Stock Code: OU8) ("Centurion") on the Main Board of the Stock Exchange of Hong Kong. VBG Capital Limited acted as the sole sponsor while UOB Kay Hian (Hong Kong) Limited, Pacific Foundation Securities Limited and VBG Capital Limited acted as the joint global coordinators, joint bookrunners, joint lead managers and the underwriters. The shares commenced trading on the Main Board of the Hong Kong Stock Exchange on 12 December 2017.

Centurion, also listed on the Main Board of the Singapore Exchange Securities Trading Limited, is one of Singapore’s largest workers and student accommodation owner-operators. They develop, own and/or manage a strong portfolio of 21 operational accommodation assets totalling approximately 61,600 beds in Singapore, Malaysia, Australia and the United Kingdom under the "Westlite" and "dwell" brands. Centurion ranked first among the purpose built workers accommodation service providers in Singapore and Malaysia in 2016 in terms of revenue receipts with a market share of approximately 11.0% and 50.0%, respectively. Upon listing on the Hong Kong Stock Exchange, Centurion will have a market capitalisation of approximately HK$2.7 billion.

The HWB team, led by partner Chia Ching Tan, had lead responsibility in the drafting of prospectus, verification, corporate and regulatory issues and general transaction management.

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Disclaimer: The information contained in this article is intended to be a general guide only and is not intended to provide legal advice.  Please contact if you have any questions about the article.