Yuexiu Services’ HK$1.8 Billion Global Offering and Hong Kong Listing

King & Wood Mallesons advised Yuexiu Services on the spin-off and subsequent listing of its shares on the Main Board of The Stock Exchange of Hong Kong Limited (SEHK). Baker McKenzie acted as Hong Kong law counsel to the Joint Sponsors.

Yuexiu Services has been listed on 28 June 2021. The global offering comprised a total of 369,660,000 shares. Priced at HK$4.88 per share, the listing raised approximately HK$1.8 billion.

Upon completion, Yuexiu Services remains a subsidiary of Hong Kong-listed Yuexiu Property Company Limited (Stock Code: 00123), the first batch of integrated property developers in China with a focus on residential property development and commercial property operations. Yuexiu Services is an urban operation service provider in China and a key market player offering integrated property management services in China’s Greater Bay Area.

Yuexiu Services is an urban operation service provider in China and a key market player offering integrated property management services in the Greater Bay Area.

The joint sponsor were ABCI Capital Limited, China Securities (International) Corporate Finance Company Limited, CCB International Capital Limited and Yue Xiu Capital Limited.

The Baker McKenzie team was led by Capital Markets Partner Hang Wang (Picture) in Beijing, Private Equity/ M&A Partner Dorothea Koo in Hong Kong. Other team members include Special Counsels Janice Wong and Rachel Wang (Hong Kong), and Associates Sophie Fu and Brian Ge (Beijing), Ray Chan (Hong Kong) and Daisy Chen (Shanghai).

The KWM team was led by partner Anthony Wan, with support from senior associates Candy Tse, Crystal Kwok and Matthew Yim, and associates Rocky Cheung, Keith Wong and Shirley Yeung.

Involved fees earner: Ray Chan – Baker McKenzie; Daisy Chen – Baker McKenzie; Sophie Fu – Baker McKenzie; Brian Ge – Baker McKenzie; Dorothea Koo – Baker McKenzie; Rachel Wang – Baker McKenzie; Hang Wang – Baker McKenzie; Janice Wong – Baker McKenzie; Rocky Cheung – King & Wood Mallesons; Crystal Kwok – King & Wood Mallesons; Candy Tse – King & Wood Mallesons; Anthony Wan – King & Wood Mallesons; Keith Wong – King & Wood Mallesons; Shirley Yeung – King & Wood Mallesons; Matthew Yim – King & Wood Mallesons;

Law Firms: Baker McKenzie; King & Wood Mallesons;

Clients: ABCI Capital Limited; CCB International; China Securities Co. Ltd; Yue Xiu Group; Yuexiu Services Group Limited;

Author: Sonia Carcano