Sidley advised on the initial public offering (IPO) of Sunkwan Properties Group Limited (HKEX: 6900) (Sunkwan Properties) on the Main Board of The Stock Exchange of Hong Kong (HKEX). The offering has raised a total of HK$1.064 billion (US$136 million). The Sidley team acted as Hong Kong legal counsel for the sole sponsor ABCI Capital Limited and underwriters in the offering. Underwriters included ABCI Securities Company Limited, CRIC Securities Company Limited, Haitong International Securities Company Limited, CMB International Capital Limited, and Livermore Holdings Limited.
Sunkwan Properties is a leading real estate developer in China, with a focus on the Yangtze River Delta Economic Region. It is one of the “Top 100 Real Estate Developers in China”, and is named “Best 10 of Growth of China Real Estate Developers Brand Value” and one of the “Top 10 Real Estate Developers in China by Business Performance” in 2020, according to China Real Estate Association, Shanghai E-House Real Estate Research Institute, and China Real Estate Appraisal.
The Sidley team was led by partners Sherlyn Lau and Renee Xiong. Other team members included senior China advisor Linda Ruan, counsels Iris Yuen and Julia Zhu, senior associate Kevin Chan, associates Scarlet Feng and Ashley Deng, project manager Hannah Wong, senior legal assistants Grace Hua and Yaping Li, and legal assistant Luna Wang.
Sidley remains the number one legal adviser in the Hong Kong IPO league table by deal volume in the past 24 months (November 2018 to October 2020), according to the most recent data compiled by Ryanben Capital.