Deloitte China assists listing of Palasino on SEHK

Deloitte China 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 spin-off listing Deloitte China has supported this year. It is also the 1st European gaming company to list on the SEHK.

Palasino offered about 142.9 million shares at HKD2.60 each, raising around HKD371 million.

(from left) Charles Ellis, Deloitte China’s Risk Advisory partner; Dick Kay, Offering Services leader of Capital Market Services Group; Gladys Fung and Kenneth Chan, Audit & Assurance partners; Simon Tung, senior A&A manager; and Eric Sze, A&A manager attend the listing ceremony of Palasino

(from left) Charles Ellis, Deloitte China’s Risk Advisory partner; Ernest Lee, Technical partner and a member of the Listing Committee of the Stock Exchange of Hong Kong; Dick Kay, Offering Services leader of Capital Market Services Group; Gladys Fung; Cheong Thard Hoong, Non-Executive Director of Palasino; Kwok Tai Law, Chief Financial Officer and Company Secretary of Palasino; Kenneth Chan, Audit & Assurance partner and Paul Yue, Risk Advisory associate director attend the listing ceremony of Palasino

Client overview

Palasino, which is spun 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.

Source: Palasino’s IPO prospectus published on 18 March 2024

Deloitte's role

Deloitte China has served FEC for several years. After the beginning of the Palasino listing engagement, Deloitte China promptly established a multi-disciplinary engagement team, which leveraged their gaming industry experience and years of professional experience in serving FEC. To meet the client’s tight listing schedule, the engagement team worked closely with other professional parties and communicated with regulatory authorities. It took us just around six months from the time the company filed its IPO application to the completion of its listing on the SEHK’s Main Board.

Deloitte China congratulates Palasino on its successful listing on SEHK. We will continue to provide high quality professional services and outstanding resources integration to assist more clients to take one-step ahead in today's increasingly competitive and complex business environment.