Sidley represented Xi’an Kingfar Property Services Co., Ltd. (HKEX: 1354) (Kingfar Property Services) as Hong Kong counsel in its initial public offering (IPO) and H-share listing on the Main Board of The Stock Exchange of Hong Kong Limited (HKEX). The offering has raised approximately HK$125 million. CEB International Capital Corporation Limited acted as the sole sponsor in the transaction.
Kingfar Property Services is a state-owned comprehensive city service and property management service provider in Shaanxi Province with presence in Northwest China. According to CIA, in terms of the GFA under management in Shaanxi Province as of December 31, 2023, it ranked third among property management service providers operating in Shaanxi Province in 2023.
The Sidley team was led by partners Sherlyn Lau, a member of Sidley’s Executive Committee and deputy head of China Corporate and Finance group, and Carrie Li. Other team members included senior China advisor Linda Ruan, counsel Eva Tsui, senior legal manager Jacky Lei, managing associate Sophie Gu, China advisor Jiefei Yao, and senior legal assistants Wendy Ho, Kristine Zhang, and Sancy Chen.
Sidley has advised on more than 46 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 No. 1 legal adviser in the Hong Kong IPO league table by deal count in the past six months (through May 2024), according to Ryanben Capital.
