Dechert has advised New Century Asset Management Limited on the deal.
New Century Asset Management Limited (“NCAML”), the manager of New Century Real Estate Investment Trust (“New Century REIT”), completed the deauthorization and delisting of New Century REIT from the Hong Kong Stock Exchange, effective from 31 August 2021. This marks the first successful delisting and deauthorization of a Hong Kong-listed REIT and completes the final stage of New Century REIT’s privatization. New Century REIT was a Hong Kong collective investment scheme authorized under section 104 of the Securities and Futures Ordinance and constituted as a unit trust. It was also the first China-based hotel REIT in the world.
New Century Asset Management is an investment management company based out of 1195 Hamburg Tpke, Wayne, New Jersey, United States.
The Dechert team advising on the privatization deal included partner Stephen Chan (Picture) and associates Charles Lam and Jacqueline Foo in Hong Kong.
Law Firms: Dechert;
Clients: New Century Asset Management Limited;