Sidley represented Datang Group Holdings Limited (HKEX:2117) (Datang Group) as Hong Kong counsel in its initial public offering (IPO) on the Main Board of the Stock Exchange of Hong Kong (HKEX). The offering has raised net proceeds of approximately HK$1.48 billion (equivalent US$191.5 million). ICBC International Capital Limited acted as the sole sponsor in the transaction.
Datang Group is a property developer in China focused on the development of residential and commercial properties in selected economic regions. In 2020, it was ranked 88th among the “Top 500 Real Estate Property Developers” in China in terms of comprehensive strength by China Real Estate Association and China Real Estate Appraisal Center.
The Sidley team on this IPO was led by partners Sherlyn Lau and Renee Xiong. Other team members included senior China advisor Linda Ruan; counsels Iris Yuen and Julia Zhu; associates Madison Meng, Alex Yiu, Xiaoman Xu, and Weiya Mu; project manager Hannah Wong; and senior legal assistants Angie Fan, Zoe Yang, and Chang Cong.
Sidley remains the No. 1 legal adviser in the Hong Kong IPO league table by deal volume in the past 24 months (December 2018 to November 2020), according to the most recent data compiled by Ryanben Capital.