Sidley represented Landsea Green Life Service Company Limited (HKEX:1965) (Landsea Green Life Service) 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 approximately HK$318 million (US$40.77 million). Haitong International Capital Limited acted as the sole sponsor in the transaction.
Landsea Green Life Service received a cornerstone investment from CURA International (Hong Kong) Investment Management Company Limited.
Landsea Green Life Service is a growing property management service provider well-established in the Yangtze River Delta that provides diversified types of property management services and value-added services. In 2020. It was ranked 24th in the Top 100 Property Management Companies in China in terms of overall strength. Landsea Green Life Service is also an established property management service provider in providing property management services for green buildings. According to China Index Academy (CIA), it is ranked third among the Top 100 Property Management Companies in China in terms of gross floor area (GFA) under management ratio of green buildings with an accreditation of two stars or above.
The Sidley team was led by partner Sherlyn Lau. Other team members included senior associate Kevin Chan, associate Yoanna Siu, senior legal assistant Lang Chen, and legal assistant Andy Tam.
Sidley has advised on more than 41 Hong Kong IPOs by property management companies since 2014. It is the legal adviser with the largest number of deals in this sector. Additionally, Sidley remains the highest ranked legal adviser in the Hong Kong IPO league table by deal volume in the past 24 months (July 2019 to June 2021), according to the most recent data compiled by Ryanben Capital.