04 January 2021

KWM advises on the spin-off and Hong Kong listing of C&D Property Management Group Co., Ltd

King & Wood Mallesons (KWM) advised C&D Property Management Group Co., Ltd (C&D Property Management, SEHK Stock Code: 2156) on the spin-off and its subsequent listing on the Main Board of the Stock Exchange of Hong Kong Limited (SEHK) by way of introduction.

Prior to the completion of the spin-off, C&D Property Management was a subsidiary of C&D International Investment Group Limited (CDI, SEHK Stock Code: 1908) and a pure property management arm of CDI. Following the spin-off and its successful listing, C&D Property Management is no longer a subsidiary of CDI and remains an indirect subsidiary of each of Xiamen C&D Inc. (C&D Inc., Shanghai Stock Exchange Stock Code: 600153) and Xiamen C&D Corporation Limited (Xiamen C&D). The sole sponsor is China International Capital Corporation Hong Kong Securities Limited (CICC).

C&D Property Management is a property management services provider headquartered in the Fujian province in the PRC. CDI is principally engaged in real estate development, real estate industry chain investment services and investments in emerging industries in the PRC. C&D Inc. is principally engaged in supply chain operation, real estate development and industrial investment, etc. Xiamen C&D is a state-owned company under the supervision of Xiamen State-owned Assets Supervision and Administration Commission of the State Council (SASAC) with a focus on supply chain operation, real estate development, tourism & hotels, exhibitions, medical & health care, urban public services and investments etc.

The team worked seamlessly and advised the issuer in delivering the transaction within a 6-month challenging timeframe, including the spin-off application in parallel with the listing application. C&D Property Management was listed on the SEHK on 31 December 2020, approximately 92 days since its listing application submitted to the SEHK in September 2020. The KWM Hong Kong team also has a long-standing relationship with CDI, having acted on its annual Hong Kong Listing Rules compliance work and its subsequent transactions since 2016.

The KWM Hong Kong Equity Capital Markets team has developed a track record advising on Hong Kong listings for property management companies. This closing marks the 6th Hong Kong listing in the property management industry the team has advised in recent years. This transaction also adds to over 20 Hong Kong listings completed by the KWM Hong Kong team in the past three years.

The team was led by partner John Baptist Chan, with support from Alan Wong, Kevin Ng, Elaine Ma and Felicia Leung.

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”.

Media contact

Share on LinkedIn Share on Facebook Share on Twitter
    You might also be interested in

    We advised on MEGAIN's Hong Kong IPO.

    01 April 2021

    We received Asia Regional Law Firm of the Year and three awards at the IFLR Asia Awards 2021

    26 March 2021

    We advised on the US$256 million bond restructuring for Dr. Peng Telecom & Media Group Co., Ltd.

    03 March 2021

    Asia’s top tier international law firm King & Wood Mallesons (KWM) is continuing its expansion in Southeast Asia with the appointment of leading cross-border Dispute Resolution partner Amanda Lees to...

    02 March 2021

    You may also be interested in...

    Legal services for your business

    This site uses cookies to enhance your experience and to help us improve the site. Please see our Privacy Policy for further information. If you continue without changing your settings, we will assume that you are happy to receive these cookies. You can change your cookie settings at any time.

    For more information on which cookies we use then please refer to our Cookie Policy.