Sidley advised Times Neighborhood Holdings Limited (HKEX: 9928) as the Hong Kong and U.S. legal adviser in its approximately HK$833million (approximately US$107million) initial public offering and listing on the Main Board of The Stock Exchange of Hong Kong Limited. The listing of shares of Times Neighborhood Holdings Limited on the Main Board of The Stock Exchange of Hong Kong Limited constitutes a spinoff of the property management business from Times China Holdings Limited (HKEX: 1233), a real estate developer in China. This spinoff listing consists of a distribution in species of all the issued shares in Times Neighborhood Holdings Limited to the qualifying shareholders of Times China Holdings Limited, and a global offering of new shares, the first of its kind on the market for a property management company. Times Neighborhood Holdings Limited is one of the leading and fast-growing comprehensive property management service providers in China.
The Sidley team was led by partner Carrie Li, with support from senior China advisor Linda Ruan, counsel Claudia Yu, senior associate Julia Zhu, legal manager Jacky Lei, and associates Jacob Zhao and Xiawan Liu, as well as senior legal assistants Bella Hu and Jiefei Yao.
Sidley leads the HK IPO Hong Kong legal adviser league table on deal counts for Q1-Q3 2019. *
*RyanbenCapital 2019 HK IPO Hong Kong legal adviser league table