Company: GRAN
Filing Date: 2025-01-30
Form Type: F-1/A
Source: 0001213900-25-008225
Chunk: 134

Company: Grande Group Ltd/HK
Filing Date: 2025-01-30
Form: F-1/A
Chunk 134
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 hand, though the performance of the secondary market in Hong Kong experienced fluctuation between 2018 and 2021, it remained a strong and active market for fund raising activities in Hong Kong. An observable rebound can be seen in the amount of equity funds raised from Post -IPOfund raising activities on the HKSE after 2020. In 2021, such Post -IPOamount totaled at approximately HK$441.9 billion, exceeding the amount of equity funds raised from IPOs in the same year. As of December 31, 2023, the equity funds raised from Post -IPOamounted to approximately HK$104.4 billion, with a CAGR of about -21.7% since 31 December 2017, respectively. There is a significant rebound on both IPO and Post -IPOfund raised in 1Q2024 exceeding total years of 2023. Fund raising activities, including both IPOs and those in the secondary market such as rights issue and placings, conducted by listed companies may require listed companies to engage a financial adviser or an independent financial adviser to provide financial advisory services. As our business included the provision of financial advisory services to secondary fund raising activities of listed companies in Hong Kong, a strong and active fund raising market in Hong Kong will widen the pool of our potential clients. HK Takeovers Codes related matters Takeovers activities related transactions, including general and partial offers, privatizations, share repurchases and whitewash waiver applications, off -marketand general offer share buy -backs, usually require financial advisory and/or independent financial advisory services pursuant to the relevant requirements under the Takeovers and Mergers and Share Buybacks of Hong Kong (the “HK Takeovers Codes”). Over the recent years, the SFC provides comprehensive guidance to companies and relevant stakeholders in complying with the HK Takeovers Codes in transactions involving takeovers, mergers and share buybacks. According to the HK Takeovers Codes related 78 transactions and applications remained active in the Hong Kong capital market. We believe that there exist ample opportunities for us to participate in such activities as financial advisers which would boost our performance. The following chart illustrates the number of HK Takeovers Codes related transactions and applications for each of the seven years ended March 31, 2023. * Figures comprise general and partial offers under the HK Takeovers Codes, privatizations, whitewash waiver applications and off -market and general offer share buy -backs Source: HKSFC, Migo Market Drivers The Hong Kong capital market