Howse Williams ("HW"), a leading Hong Kong independent law firm, advised Xingye Wulian Service Group Company Limited ("Xingye Wulian") as the Hong Kong legal counsel on the HK$168 million listing of its shares on the Mainboard of the Hong Kong Stock Exchange. Zhongtai International Securities Limited ("Zhongtai International") was the sole sponsor of the initial offering. Zhongtai International Securities Limited, BOCOM International Holdings Limited and Haitong International Securities Company Limited were the joint bookrunners of the public offer. The IPO was extremely popular among the retail investors in Hong Kong and the Hong Kong public offer was oversubscribed by over 1,400 times.
The Company is one of the largest property management service providers in the People's Republic of China (the "PRC") with a strategic focus on commercial properties in Henan. As at the date of the IPO, the gross floor area managed by Xingye Wulian amounted to 6.5 million sq.m., ranking the Company #67 in the Top 100 Property Management Companies in the PRC.
The IPO was launched and completed against the backdrop of the new coronavirus and extensive travel restrictions in Asia. HW is proud to have played a part in helping the Company navigate through the present challenging conditions. This again reaffirms our firm's ability to be innovative and solution-oriented despite difficult circumstances. The HW team would like to take this opportunity to thank the Company and Zhongtai International for placing their trust and confidence in HW.
The HW team was led by partner Chris Yu who was supported by partner Stephen Leung, senior associate Cherry Tang, associates Vivian Chik and Winnie Poon. They had lead responsibility for drafting of listing documents, legal documentation, providing advice on corporate and regulatory issues and undertaking general transaction management.
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Our key practice areas are corporate/commercial and corporate finance; commercial and maritime dispute resolution; clinical negligence and healthcare; insurance, personal injury and professional indemnity insurance; employment; family and matrimonial; property and building management; banking; fraud; financial services/corporate regulatory and compliance.
As an independent law firm, we are able to minimise legal and commercial conflicts of interest and act for clients in every industry sector. The partners have spent the majority of their careers in Hong Kong and have a detailed understanding of international business and business in Asia.
Disclaimer: The information contained in this article is intended to be a general guide only and is not intended to provide legal advice. Please contact [email protected] if you have any questions about the article.