Sidley advised on the initial public offering of First Service Holding Limited (HKEX: 2107) (“First Service”) on the Main Board of The Stock Exchange of Hong Kong. The offering has raised a total of HK$600 million (US$76.9 million). The Sidley team acted as Hong Kong legal counsel for the sole sponsor, Haitong International Securities Company Limited.
First Service is a leading property management service provider in China. It promotes comfortable living through technological innovation and provides customers with digitally connected, green and healthy living experiences in residential and non-residential properties. First Service is recognized by China Index Academy (CIA) as one of the Top 100 Property Management Companies 2020 by Service Quality.
The Sidley team was led by partners Sherlyn Lau and Renee Xiong. Other team members included senior associates Ariel Lin and Jia Li, associate Anita Wu, senior legal assistant Grace Hua, and legal assistants Jianwen Wang, Elena Wu, and Le Li.
Sidley has advised on more than 21 Hong Kong IPOs by property management companies since 2014. Sidley is the legal advisor with the largest number of deals in this sector. Additionally, Sidley remains the number one legal adviser in the Hong Kong IPO league table by deal volume in the past 24 months (October 2018 to September 2020), according to the most recent data compiled by RyanBen Capital.
