Sidley represented Zhenro Services Group Limited (HKEX: 6958) (Zhenro Services) as Hong Kong legal counsel in its initial public offering (IPO) on the Main Board of the Stock Exchange of Hong Kong. The offering has raised a total of HK$1.14 billion (approximately US$146.8 million). CCB International Capital Limited acted as the sole sponsor for the transaction.
Zhenro Services is a nationwide, fast-growing and comprehensive property management service provider in China, offering diversified property management services for residential and non-residential properties. Headquartered in Shanghai, it started providing property management services in China more than 15 years ago. According to data from China Index Academy, among the top 30 of the 2020 Top 100 Property Management Companies, Zhenro Services was ranked third in terms of growth rate of net profit in 2019.
The Sidley team was led by partners Sherlyn Lau and Renee Xiong. Other team members included counsel Iris Yuen, senior associates Kevin Chan, registered foreign lawyer Madison Meng, associates Deborah Pang, Vicky Zheng, and William Lau. Tax team members included New York-based partners Nicholas Brown and Christian Brause.
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).