Ogier recently acted for Naibu, the 10th largest local sportswear brand in China, on its recent £68m listing on the AIM Market. Naibu Global International Company plc and its subsidiaries design, manufacture and supply Naibu branded clothing and accessories through around 2,800 Naibu stores and sales outlets across China.
The brand name is broken down into two parts: “Nai” means “tenacity,” “persistence” and “endurance” and “Bu” reflects “pace,” “method” or “way.” Naibu's English slogan is “Keep my way,” and its target market is students and young adults.
Naibu Global International Company plc is a newly incorporated Jersey holding company for the existing Naibu group of companies and was listed on the AIM Market on 5 April 2012, raising approx £6m in new equity. Ogier provided Jersey legal advice and administrative services as part of the AIM listing. The team was led by partner Nathan Powell, based in Ogier's Hong Kong office, with Senior Associate Richard Daggett and Associate Alan Stirling and administrative services were provided by Ogier Corporate Services led by Associate Director Stephanie Rose with Senior Administrator Neil Kerr. Kristy Calvert in the Shanghai office assisted in the initial coordination of the transaction. Ogier is the only offshore law firm to have an office in mainland China having opened in July 2011.
Mr Huoyan Lin, executive chairman, noted that “The successful admission to AIM represents an important platform for the Company and the Board believes that we can build substantially from our current position with the aim of growing the business further. We would like to thank our existing supporters and we are delighted to welcome our new investors.”
Nathan Powell said “We have been delighted to act for Naibu in connection with this high profile listing, highlighting investor appetite for the rapidly growing Chinese market. The choice of a Jersey listing company reflects the valued combination of an internationally respected jurisdiction with the flexibility required to allow the company to operate most effectively. Furthermore, by fielding a cross-jurisdictional team based in Jersey and Hong Kong, we were able to deliver real time advice to the London and Chinese teams which is a key advantage on a fast moving transaction such as this one. Ogier is the only firm able to offer Jersey legal advice in the Asian time zone from our Hong Kong office.”
Pinsent Mason LLP acted as lead advisers to Naibu.
For more information, visit www.naibu.com.