Sidley has advised on another successful listing of property management businesses of Hong Kong-listed property developers: the listing of Country Garden Services Holdings Company Limited (HKEX: 6098) (Country Garden Services), a subsidiary of Country Garden Holdings Company Limited (HKEX: 2007) (Country Garden Holdings), on the Main Board of the Stock Exchange of Hong Kong Limited (HKEX) by way of introduction. The separate listing of the ordinary shares in the share capital of Country Garden Services constitutes a spinoff of Country Garden Services by Country Garden Holdings under PN15.
Country Garden Services is a leading residential property management service provider in China. The company provides property management services to residential apartments, multifunctional complex buildings, government and public facilities, industrial parks, highway service stations and schools. As of December 31, 2017, the company had a large property management portfolio covering more than 240 cities across 28 provinces, municipalities and autonomous regions in China.
The Hong Kong-based Sidley team was led by partner Carrie Li, with support from senior China advisor Linda Ruan, and Counsel Hon Auyeung and Michael Yu.
Sidley has also advised on the spinoff listings of Colour Life Services Group Co., Ltd. (SEHK:1778) and A- Living Services Co., Ltd. (SEHK:3319).
The Sidley China team has an established reputation as one of the top Hong Kong IPO legal advisers. The team has advised on more than 10 Hong Kong IPOs in the first half of 2018.