Porda Havas assisted Chervon Holdings Limited (2285.HK) to successfully land in the Hong Kong capital market
Latest Update:
30 th December, 2021

December 30, 2021, Chervon Holdings Limited (“Chervon Holdings” or the “Company”; stock code: 2285.HK), a global supplier of power tools and outdoor power equipment (OPE), today Officially listed on the main board of the Hong Kong Stock Exchange and started trading.

The global offering of Cherfeng Holdings totals 71,916,000 shares, and the final offer price for each offer share is HK$43.60. After deducting the underwriting fees and commissions payable in connection with the Global Offering and the estimated total expenses, the Company's net proceeds from the Global Offering are estimated to be approximately HK$2,957 million. The final number of Offer Shares under the Hong Kong Public Offering and the International Offering are 7,191,600 and 64,724,400, respectively, representing 10% and 90% of the total number of Offer Shares initially available under the Global Offering before any over-allotment option is exercised.

Cherfeng Holdings focuses on innovative development (especially in the field of lithium-ion battery system technology), specializing in providing a full range of products tailored to meet the diverse needs of global end users. The company currently owns five differentiated and widely recognized brands, EGO, FLEX, SKIL, Dayou and Xiaoqiang, covering major regions of the world and market segments for different types of end customers. Its EGO brand has been strongly recognized by the global electric OPE market since its establishment in 2013. EGO series products include riding lawn mowers, lawn mowers, chainsaws and blowers/snow blowers. In 2020, the company's revenue ranked ninth in the world, accounting for about 1.7% of the market; the revenue from some OPE businesses ranked tenth in the world, accounting for about 2.1% of the market; and comprehensively ranked in the global power tools and OPE markets No. 13, with a market share of about 1.9%.

With its insight into cutting-edge technologies in the industry and its customer-centric innovation capabilities, Cherfeng Holdings continues to launch new products that demonstrate cutting-edge technology and product design capabilities; with the company's multi-channel sales and distribution network, various innovative products are sold to North America, Europe and Asia and other major markets in the world; the existing global operation model and strong brand portfolio enable the company to further expand market share while meeting the needs of end customers in target markets. With the links of R&D, manufacturing, sales and distribution interlocking, and finally forming a mature integrated system, Chervon Holding has maintained and continued to consolidate its leading position in the global market in the power tool and OPE industries.

Mr. Pan Longquan, Executive Director, Chairman and Chief Executive Officer of Cherfeng Holdings Co., Ltd., said, "Cherner Holdings officially listed on the Hong Kong stock exchange today, opening a new chapter for the company's development. The successful listing reflects the global investors' appreciation for the company. With the trust and support of the company's business development and business philosophy, the company has also stood on the international capital stage, showing our characteristics and advantages in an all-round way. Looking forward to the future, we will continue to enhance product innovation capabilities, enhance corporate competitiveness, and promote high quality in the industry. We are determined to become an innovation-driven leader in the era of lithium-ion, intelligence and digitalization in the power tool and OPE industry.”

About Cherfeng Holdings Limited

As a global supplier of power tools and outdoor power equipment (OPE), Cherfeng Holdings Co., Ltd. provides a full range of products under a portfolio of well-known brands, tailored to meet the diverse needs of global end users. Cherfeng Holdings currently has five differentiated and widely recognized brands, EGO and SKIL for high-end and mass market end users, as well as FLEX, DEVON Dayou and Xiaoqiang for industrial/professional end users. Global major regions and market segments.

Latest Update:
30 th December, 2021