Sidley represented Jinke Smart Services Group Co., Ltd. (HKEX: 9666 (Jinke Services) as Hong Kong counsel in its global offering and listing of H-shares on the Main Board of The Stock Exchange of Hong Kong Limited (HKEX). The offering raised a total of HK$5.74 billion (US$736 million) before the exercise of the over-allotment option. CLSA Capital Markets Limited and Huatai Financial Holdings (Hong Kong) Limited acted as joint sponsors in the transaction.
Jinke Services received strategic pre-IPO and cornerstone investments from Taikang Life Insurance, Gaoling Fund, L.P. and YHG Investment, L.P., Snow Lake China Master Fund, Ltd, CICC Grandeur Fund, UBS Asset Management (Singapore) Limited, Marshall Wace Asia Limited, Aspex Master Fund, WT Asset Management Limited, 3W Fund Management Limited, and China Orient Multi-Strategy Master Fund.
Established in 2002, Jinke Services is a leading, comprehensive, and “smart” property management service provider in China. It is recognized by China Index Academy as a top ten property management company among China’s Top 100 Property Management Companies in terms of overall strengths for five consecutive years from 2016 to 2020, and was ranked first among the Top 100 Property Management Companies in 2020 in terms of market share based on GFA under management in Southwestern China in 2019.
The Sidley team is led by partners Sherlyn Lau and Renee Xiong. Other team members included senior China advisor Linda Ruan and associates Madison Meng, Congsi Wu, Eric Hung, Sophie Gu, and Miao Pan, legal manager Jacky Lei, and senior legal assistants Grace Hua, Chang Cong, and Jianwen Wang.
Sidley has advised on more than 21 Hong Kong IPOs by property management companies since 2014. Sidley is the legal advisor with the most 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 (November 2018 to October 2020), according to the most recent data compiled by Ryanben Capital.
