Sidley has advised Powerlong Real Estate Holding Limited (HKEX: 1238) (Powerlong Real Estate) on its successful placement of existing shares and top-up subscription of 146.6 million new shares at the placing price of HK$5.40. Powerlong Real Estate has raised approximately US$102 million (equivalent to HK$791 million) in this share placement.
Powerlong Real Estate is a large comprehensive property developer in the P.R.C. focusing on the development and operation of comprehensive commercial realty projects.
The Sidley team was led by partner Sherlyn Lau, with support from counsel Anna Chow and associate Alex Chau.