Transten Global Group (TTG) has submitted a proposal for an initial public offering (IPO). The company explains its structure as follows: "We are a holding company incorporated in the Cayman Islands with no operations of our own and are not a Chinese operating company. Consequently, we conduct all our operations through UDEL UK, UDEL Australia, and our operating entities in the People's Republic of China (PRC)."
Transten Global Group files IPO request
The Class A Ordinary Shares offered in this prospectus represent shares of the holding company in the Cayman Islands, not shares of UDEL UK or the operating entities within the PRC. Holders of our Class A Ordinary Shares do not have a direct ownership stake in the operating entities; rather, they will own shares of a Cayman Islands holding company.
Potential regulatory risks
There is a risk that Chinese regulatory authorities may not approve our corporate structure, which could have a significant negative impact on our operations and/or the value of our Class A Ordinary Shares. This could lead to a substantial decline in the value of our Class A Ordinary Shares or potentially render them worthless. For more details, see the section titled 'Risk Factors — Risks Related to Operations in the PRC — Chinese regulatory authorities may not approve our holding structure, which could result in significant negative changes to our operations and/or the value of the securities we are registering for sale, including the potential for a significant decline in the value of those securities or rendering them worthless.'"
