PRC property developer raises US$336 million in HK IPO
November 09, 2010 | BY
Candice MakTianjin-based property developer Sunac China Holdings' global offering and initial public offering (IPO) on the Hong Kong Stock Exchange has raisedHK$2.6…
Tianjin-based property developer Sunac China Holdings' global offering and initial public offering (IPO) on the Hong Kong Stock Exchange has raisedHK$2.6 billion (US$336 million). The joint bookrunners, global coordinators and lead managers of this transaction were Deutsche Bank and Goldman Sachs. The sole sponsor was Deutsche Bank, Hong Kong Branch.
Sunac's business focuses on developing large-scale, medium to high-end property in the Bohai Rim, South Jiangsu and Chengdu-Chongqing regions of china. Currently, it is operating in Tianjin, Beijing, Chongqing, Wuxi and Suzhou.
A Hong Kong-based Paul Hastings Janofsky & Walker team represented Deutsche Bank and Goldman Sachs on US and Hong Kong law. The team included partners Raymond Li, Sammi Li, Neil Torpey and Steve Winegar. Commerce & Finance Law Offices advised the joint bookrunners on PRC law.
A Davis Polk & Wardwell team led by Show-Mao Chen advised the issuer Sunac on US law. Norton Rose in Hong Kong provided Sunac with Hong Kong law advice, while Conyers Dill &Pearman advised it on Cayman Islands Law. Jun He Law Offices and Jincheng Tongda & Neal Law Firm served as PRC counsel to the issuer.
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