Baker & McKenzie advised the sole sponsor and underwriter, BOCI Asia Limited, as Hong Kong law counsel, on the HK$607 million global offering of International Housewares Retail Company Limited ("IHRCL"), a housewares retail chain with operations in Hong Kong, Singapore, West Malaysia, the PRC and Macau.  The shares commenced trading on The Stock Exchange of Hong Kong Limited on 25 September 2013.

IHRCL has a retail network of 293 stores in Hong Kong, Singapore, West Malaysia, the PRC and Macau, as well as ten licenced stores operated by its business partners in East Malaysia, Saudi Arabia, New Zealand, Indonesia and Cambodia.  Its stores are operated under the Japan Home Centre, City Life, Epo Gifts & Stationery, Japan Home and Living Plus brands.

Shares available under the global offering have been significantly over-subscribed.  Net proceeds from the global offering will be used by IHRCL to fund 200 new store openings in Hong Kong and other jurisdictions, renovate existing stores, improve logistics and warehousing, upgrade information technology systems and for working capital and other general corporate purposes.

The Baker & McKenzie team was led by partner and head of the Securities Practice Group in Hong Kong and China, Elsa Chan, and also involved securities partners Brian Spires and Edwin Li, and associates Tami Chen, Ashley Chow and Janice Wong.  The team had lead responsibility for legal documentation, prospectus drafting, corporate and regulatory issues, communication with the regulators and general transaction management.