King & Wood Mallesons (KWM) advised Guotai Junan Capital Limited as the sole sponsor and other underwriters on the HK$662 million initial public offering (IPO) and the listing of the H-shares of Financial Street Property Co., Limited (Financial Street Property, Stock Code: 1502) on the Main Board of The Stock Exchange of Hong Kong Limited (SEHK).
Financial Street Property is a PRC state-owned comprehensive property management company with a focus on providing property management and related services to commercial and business properties located at financial management centres at all levels nationwide. According to China Index Academy, Financial Street Property was ranked 16th among the 2020 Top 100 Property Management Companies in the PRC in terms of overall strength.
This marks the fifth Hong Kong* listing in the PRC property management industry that the KWM Hong Kong Equity Capital Markets team has advised in recent years. Other recent listings include: Poly Property Development Co, Ltd., Sichuan Languang Justbon Group Co., Ltd. and Xinyuan Property Management Service (Cayman) Ltd. in 2019; and Xinchengyue Holdings Limited in 2018.
The team was led by partners Gary Lock and Jia Liu and Counsel Ruth Lau, with support from Sammy Ng, Yingda Wang and Xinnan Li.
*Any reference to “Hong Kong” or “Hong Kong SAR” shall be construed as a reference to “Hong Kong Special Administrative Region of the People’s Republic of China”.