First Hong Kong IPO in 2011 by PRC property company
March 24, 2011 | BY
Candice MakShenzhen-based property developer, Top Spring International Holdings (Top Spring) was listed on the Hong Kong Stock Exchange, its initial public offering…
Shenzhen-based property developer, Top Spring International Holdings (Top Spring) was listed on the Hong Kong Stock Exchange, its initial public offering (IPO) and rule 144A/Regulation S international offering raising US$200 million. The proceeds will be used to acquire new development projects in China, and as general corporate and working capital.
The underwriters were Macquarie Capital Securities, HSBC and Nomura International.
Top Spring was advised by Deacons, Latham & Watkins and Llinks Law offices as to Hong Kong, US and PRC law aspects, respectively. The Latham & Watkins team was led by David Zhang and included Samuel Weiner and Jiyeon Lee-Lim among others. Sammy Li and David Grimm led the Hong Kong-based Paul Hastings Janofsky & Walker team that represented the underwriters. The Cayman Islands law adviser was Conyers Dill & Pearman.
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