Sidley represented Shinsun Holdings (Group) Co., Ltd. (HKEX: 2599) (Shinsun Holdings) as Hong Kong counsel in its initial public offering (IPO) on the Main Board of the Stock Exchange of Hong Kong (HKEX). The offering raised net proceeds of HK$3.17 billion (US$400 million). CCB International Capital Limited and ABCI Capital Limited acted as joint sponsors in the transaction.
Headquartered in Shanghai, Shinsun Holdings is a fast-growing, large-scale, comprehensive real estate developer in China. According to the Enterprise Research Institute of the Development Research Center of the State Council, the Center for Real Estate of Tsinghua University and the China Index Academy, it has been ranked as one of the “Top 100 Real Estate Developers” since 2018. In 2019, it was also named one of the “Top 30 Brand of China Real Estate Companies”.
The Sidley team is led by partners Sherlyn Lau and Renee Xiong. Other team members included counsels Iris Yuen and Julia Zhu, senior associate Kevin Chan, associates Scarlet Feng, Ashley Deng, Vanessa Lee, and Yuhang Li, legal manager Rachel Chan, senior legal assistants Wendy Ho and Ruby Chong, and legal assistants Luna Wang and Chang Cong.
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.