Campbells is pleased to have acted as Cayman Islands legal counsel to Ridge Outdoor International Limited (“Ridge Outdoor”) in connection with its close to HK$350 million initial public offering and listing of its 28,205,000 shares on the Main Board of The Stock Exchange of Hong Kong Limited (HKEX). The listing was highly successful, with Ridge Outdoor’s shares surging to a high of HK$29.4 (up 140% from the IPO price of HK$12.25) on its first trading day, closing at HK$24.78. This exceptional performance highlights strong investor confidence in the Company’s dominant industry position and future potential.
Ridge Outdoor, a leading provider of fishing-related equipment in China and globally, focuses on designing, manufacturing, and selling products such as fishing chairs, bedchairs, accessories, bags, and tents through an integrated OEM/ODM and OBM model. As the world’s largest manufacturer in global fishing-related equipment industry with a reported 23.1% global market share in 2024, Ridge Outdoor’s client base includes prominent outdoor equipment brands worldwide, like Decathlon, Pure Fishing, and Rapala VMC.
A key cornerstone investor of this IPO is Huangshan Dejun Enterprise Management Co., Ltd., a state-owned entity controlled by the Finance Bureau of Deqing County, Zhejiang Province, where Ridge Outdoor maintains its principal production base. This underscores the State’s confidence in the Company’s long-term growth potential in the manufacturing and outdoor equipment sector.
Clifford Chance acted as Hong Kong and US legal advisers to Ridge Outdoor, and Grandall Law Firm (Hangzhou) acted as its PRC legal advisers. Haiwen & Partners LLP acted as Hong Kong and US legal advisers to the sole sponsor and the underwriters, and Commerce & Finance Law Offices acted as their PRC legal advisers. The sole sponsor is China International Capital Corporation Hong Kong Securities Limited (CICC), with joint bookrunners and lead managers including CICC, Futu Securities, and Fuze Securities (International) Limited.
Campbells Partner Jenny Nip led the transaction with support from Senior Associate Chantelle Chan and Associate Benjamin Tao.
