Sidley represented Leading Holdings Group Limited (HKEX: 6999) (Leading 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 has raised net proceeds of approximately HK$1.3 billion (approximately US$170.2 million). CCB International Capital Limited acted as the sole sponsor in the transaction.
Leading Holdings is a property developer with a leading market position among the Sichuan-based property developers and a nationwide presence. It was recognized as one of the “Best 100 of China Real Estate Developers (中国房地产开发企业100强) ” in 2020 in terms of comprehensive capabilities according to the China Real Estate Industry Association (中国房地产业协会). In addition, it was recognized as one of the ‘‘China TOP 100 Real Estate Developers (中国房地产百强企业)’’ for four consecutive years starting from 2017 in terms of comprehensive capabilities, according to China Real Estate TOP10 Research (中国房地产TOP10研究组).
The Sidley team on this IPO was led by partners Sherlyn Lau and Renee Xiong. Other team members included senior China advisor Linda Ruan; counsel Iris Yuen; senior associate Jia Li; associates Ashley Deng, Alex Yiu, Deborah Pang, Haiyun Chen, and Peter Liu; and senior legal assistants Chang Cong and Zoe Yang.
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.