Sidley advised on the initial public offering of Redsun Services Group Limited (HKEX: 1971) (Redsun Services) on the Main Board of The Stock Exchange of Hong Kong. The global offering has raised a total of HK$415 million (approximately US$53.5 million).
The Sidley team acted as Hong Kong legal counsel for the sole sponsor, ABCI Capital Limited, and the underwriters, which included ABCI Securities Company Limited, CCB International Capital Limited, CMB International Capital Limited, ICBC International Securities Limited, CEB International Capital Corporation Limited, China Everbright Securities (HK) Limited, Guosen Securities (Hong Kong) Capital Company Limited, Haitong International Securities Company Limited, CRIC Securities Company Limited, CNI Securities Group Limited, Fortune (HK) Securities Limited, Livermore Holdings Limited, Maxa Capital Limited, Seazen Resources Securities Limited, and Soochow Securities International Brokerage Limited.
Established in 2003 in Nanjing, Redsun Services is one of the top 100 property management companies in China. Redsun Services provides property management services, value-added services to non-property owners, and community value-added services.
The Sidley team was led by partners Sherlyn Lau and Renee Xiong, with support from counsel Claudia Yu, senior associate Kevin Chan, registered foreign lawyers Madison Meng and Xiawan Liu, and China advisor Joy Chen.
According to the most recent data compiled by RyanBen Capital, Sidley remains the number 1 legal adviser in the Hong Kong IPO league table by deal volume over the past 24 months (July 2018 to June 2020).
