HONG KONG'S FIRST REAL ESTATE IPO IN 2008
July 09, 2008 | BY
clpstaff &clp articles &Central China Real Estate's Hong Kong IPO has raised US$176 million in the first Chinese real estate listing in Hong Kong for more than six months. A…
Central China Real Estate's Hong Kong IPO has raised US$176 million in the first Chinese real estate listing in Hong Kong for more than six months. A residential developer in Henan Province in China, the company is issuing 500 million new shares, representing 25% of its share capital.
Li & Partners advised Central China on Hong Kong law to Central China, while Herbert Smith were the legal advisers on Hong Kong and US law to Morgan Stanley. Hylands Law Firm advised Central China on PRC law, while Commerce & Finance Law Offices advised PRC law to Morgan Stanley. Lovells, led by partners Jamie Barr and Terence Lau, and consultant Thomas Tarala, advised on the IPO.
Terence Lau, partner at Lovells, commented: “Given the current market condition, investors are more cautious in making their investment decisions. This deal shows that PRC real estate developers with fundamental strengths and quality can still stoke investors' appetites.”
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