Company: GRAN
Filing Date: 2025-03-14
Form Type: F-1/A
Source: 0001213900-25-023979
Chunk: 146

Company: Grande Group Ltd/HK
Filing Date: 2025-03-14
Form: F-1/A
Chunk 146
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 world, substantial amounts of funds were raised in Hong Kong every year. For the year ended December 31, 2021, equity funds raised from IPOs on the HKSE amounted to approximately HK$328.9 billion, more than doubling the amount in 2017 of approximately HK$128.2 billion. As of December 31, 2023, the equity funds raised from IPOs amounted to approximately HK$46.3 billion, respectively, with a CAGR of about -15.6% since 31 December 2017, respectively. On the other 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