Sidley represented Kaisa Prosperity Holdings Limited (Kaisa Prosperity) (HKEX: 2168) in connection with the placing of existing shares and subscription of new shares under general mandate. The net proceeds to be received by Kaisa Prosperity from subscription are estimated to be approximately HK$451 million (US$57.82 million). The placing agents are Haitong International Securities Company Limited and ABCI Securities Company Limited.
Founded in 1999 in ShenZhen as a subsidiary of Kaisa Group Holdings Limited, Kaisa Prosperity provides mid- to high-end residential communities and non-residential properties. Their existing business covers such fields as property management service, pre-delivery and consultancy services, community value-added services and intelligent solution service.
The Hong Kong-based Sidley team was led by partner Christopher Cheng, with support from counsel Anna Chow and Dominic Sze.