King & Wood Mallesons (KWM) advised Poly Property Development Co, Ltd. (Poly Property) on its HK$4.68 billion initial public offering (IPO) and the listing of its H-shares on the Main Board of The Stock Exchange of Hong Kong* Limited (SEHK).
Poly Property (Stock Code: 6049) was listed on the SEHK on 19 December 2019. The listing was priced at HK$35.1 per H-share and comprised a total of 133,333,400 H-shares. The listing involved a spin-off from Poly Developments and Holdings Group Co., Ltd. (Poly Developments and Holdings), the controlling shareholder of Poly Property. Poly Developments and Holdings (Stock Code: 600048) is listed on the Mainboard of the Shanghai Stock Exchange.
Poly Property is a leading comprehensive property management service provider in China. It primarily engages in property management services for more than 23 years with a focus on first-tier and second-tier cities covering the five national-level urban agglomerations in China. It has been ranked fourth by China Index Academy in 2019 among Top 100 Property Management Companies in China and ranked first among Top 100 Property Management Companies in China with state-owned background.
The team was led by partner Anthony Wan, with support from senior associates Matthew Yim and Candy Tse, along with Wallace Wong and Jason Choi.
*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”.