Sundy Service Group Co. Ltd’s HK$200 Million IPO

Stevenson, Wong & Co. acted as the Hong Kong legal advisers to Sundy Service Group Co. Ltd, and Conyers as its Cayman Island advisor, in respect of its successful listing on the Main Board of The Stock Exchange of Hong Kong Limited.

Sundy Service Group Co. Ltd (stock code: 9608) completed its listing on the Main Board of The Stock Exchange of Hong Kong Limited.

The shares of Sundy Service were listed on the Stock Exchange on 18 January 2021. Sundy Service offered a total of 800 million shares, among which 240 million shares were offered under the Hong Kong public offering and 560 million shares were offered under the international placing (after reallocation). The offer price is HK$0.25 per offer share, and the gross proceeds from the global offering are HK$200 million.

Sundy Service and its subsidiaries are a reputable integrated property management service provider in the property management industry in Zhejiang province.

The sole sponsor of the listing was Cinda International Capital Limited. The joint global coordinators were Cinda International Capital Limited and Elstone Securities Limited, while the joint bookrunners were Cinda International Capital Limited, Elstone Securities Limited, CCB International Capital Limited and Crosby Securities Limited.

The Stevenson, Wong & Co. team was led by our partners Mr. Hank Lo (Picture) and Mr. Rodney Teoh, supported by team members including Ms. Florence Wai (associate), Ms. Claire Sit (associate) and Ms. Doris Wang (registered foreign lawyer).

The Conyers team was led by partner Teresa Tsai.

Involved fees earner: Teresa Tsai – Conyers Dill & Pearman; Hank Lo – Stevenson, Wong & Co.; Rodney Teoh – Stevenson, Wong & Co.; Florence Wai – Stevenson, Wong & Co.; Doris Wang – Stevenson, Wong & Co.;

Law Firms: Conyers Dill & Pearman; Stevenson, Wong & Co.;

Clients: Sundy Service Group Co. Ltd ;


Author: Michael Patrini