1st European gaming and hotel company to list in Hong Kong

A team of avocado rechtsanwälte headed by Frankfurt-based corporate partner Dr. Christian Berger assisted the spin-off listing of Palasino Holdings (Palasino, stock code: 02536.HK) on the Stock Exchange of Hong Kong (SEHK) on 26 March 2024. This is the 1st European gaming and hotel company to list on the SEHK.

Palasino offered about 142.9 million shares at HKD 2.60 each, raising around HKD 371 million.

Palasino, which is a spin off from Far East Consortium International (FEC, stock code: 0035.HK), is a gaming and leisure group comprising an integrated land-based casino and resort and two full-service land-based casinos operating in the Czech Republic, offering primarily slot machines and table games, and three hotels in Germany and another in Austria that offer accommodation, catering, conference and leisure services.

avocado rechtsanwälte has served the German subsidiary of Palasino, which operates the hotels in Germany, for several years. avocado rechtsanwälte performed a due diligence on the German operations and the German subsidiary and provided a legal opinion with the results of the due diligence, which were included in Palasino’s IPO prospectus published on 18 March 2024. Furthermore, avocado rechtsanwälte assisted on the corporate restructuring, which took place prior to the listing. 

To meet the client’s tight listing schedule, the team of avocado rechtsanwälte worked closely with other professional parties, including DeHeng Law (Hong Kong legal counsel to the sole sponsor) and the underwriters, in particular Guotai Junan Securities (Hong Kong) Limited. 

The avocado rechtsanwälte team also included Lucia Patrizzi (Real Estate), Sebastian Talarowski (Corporate), Jens Baltschukat (Corporate), Dr. Lukas Ströbel (IT) and Philipp Ess (IP). 

avocado rechtsanwälte congratulates Palasino on its successful listing on SEHK.

You can find the press release as pdf here.