A-Living Services Co. Ltd.’s US$526m listing of shares on the Hong Kong Stock Exchange

Freshfields Bruckhaus Deringer has advised HSBC, Huatai Securities and Morgan Stanley as the joint global coordinators in the spin-off of A-Living Services Co. Ltd. from Agile Group Holdings Ltd. and the offering and separate listing of H shares of A-Living on the Hong Kong Stock Exchange.

The transaction involved the offering and listing of approximately 333m H shares. It raised gross proceeds of approximately US$526m (HK$4.1bn).

A-Living is a property management services provider in China focusing on mid- to high-end properties. The company intends to use the majority of the proceeds of the IPO to pursue selected strategic investment and acquisition opportunities and to further develop its strategic alliances.

Agile Group is an integrated conglomerate in China primarily engaged in property development, property investment, hotel operations, environmental protection, intelligent engineering, design and other related services.

The Freshfields team advising on the deal was led by Global Transactions partners Calvin Lai (picture) and Jason Xu. Partners Teresa Ko and Stephen Revell provided valuable support to the transaction. Tax advice was provided by partner Claude Stansbury and counsel Dennis Caracristi. Advice on anti-money laundering, anti-bribery and economic sanctions matters was provided by counsel Sandy Baggett.

Involved fees earner: Calvin Lai – Freshfields Bruckhaus Deringer LLP; Jason Xu – Freshfields Bruckhaus Deringer LLP; Teresa Ko – Freshfields Bruckhaus Deringer LLP; Stephen Revell – Freshfields Bruckhaus Deringer LLP; Claude Stansbury – Freshfields Bruckhaus Deringer LLP; Dennis Caracristi – Freshfields Bruckhaus Deringer LLP; Sandy Baggett – Freshfields Bruckhaus Deringer LLP;

Law Firms: Freshfields Bruckhaus Deringer LLP;

Clients: HSBC; Morgan Stanley; Huatai Financial Holdings Limited;


Author: Michael Patrini