Sidley advised Powerlong Commercial Management Holdings Limited (HKEX: 9909) as the HK and U.S. legal adviser in its initial public offering (IPO) listed on the Main Board of The Stock Exchange of Hong Kong Limited. This listing is a spinoff of the commercial operational and property management services from Powerlong Real Estate Holdings Limited (HKEX: 1238). This offering raised approximately HK$1.34 billion (US$172 million), based on the fixed offer price of HK$9.5 per offer share (assuming that the over-allotment option is not exercised). Powerlong Commercial Management Holdings Limited is a leading commercial operational service provider in China.
The Sidley team was led by partners Sherlyn Lau and Renee Xiong, with support from counsel Iris Yuen and Dominic Sze, associates Scarlet Feng, Eric Hung and Vanessa Lee, legal manager Jacky Lei, as well as legal assistants Luna Wang, Wendy Ho and Yaping Li.
Sidley leads the HKIPO Hong Kong legal advisor league table on deal counts for Q1 Q3 2019.*
*Ryanben Capital 2019 HKIPO Hong Kong legal adviser league table