Ashurst has advised Nomura as placing agent in relation to a HK$580 million (approximately US$15 million) placement of shares in HK-listed Tsui Wah Holdings Limited.

Pursuant to the share placement agreements, Cui Fa Limited, Ample Favour Limited and Victor Leap Limited, the controlling shareholders of Tsui Wah Holdings, agreed to sell to Nomura 66,000,000 shares at the placing price of HK$5 per share. Macca Investment Limited also entered into a placement agreement with Nomura on the same day, pursuant to which it sold to Nomura 50,000,000 shares at the same placing price. The aggregate amount of shares placed represents approximately 4.73% of the issued share capital of Tsui Wah Holdings.

Tsui Wah Holdings owns Tsui Wah Restaurant, a well-known Hong Kong restaurant chain with over 40 branches in Hong Kong, Macau and mainland China.