Deacons acted for Kingdom Holdings Limited in its Main Board red-chip listing 12 December 2006 Kingdom Holdings, which is the largest linen yarn manufacturer in the world and is based in Jiangsu, offered 150 million shares and raised over HK$260 million in its red-chip IPO on the Main Board. One of the corporate shareholders of Kingdom Holdings is Caledonia, which is a very sizeable investment fund in UK (Kingdom is its first PRC investment). The share offer was well received, with the public offer tranche over-subscribed by about 28 times. Trading commenced on 12 December. Deacons acted as the Hong Kong legal adviser to Kingdom Holdings in this IPO.