King & Wood Mallesons (KWM) advised China Merchants Securities (HK) Co., Limited and Huatai Financial Holdings (Hong Kong) Limited as the joint sponsors, overall coordinators, joint global coordinators, joint bookrunners, joint lead managers and underwriters on the global offering and listing of Zhong An Intelligent Living Service Limited (Zhong An Intelligent Living, Stock Code: 2271), today 18 July 2023.
The global offering comprised a total of 126,668,000 shares (subject to exercise of the over-allotment option). Priced at HK$1.18 per share, the listing raised gross proceeds of approximately HK$149.5 million, assuming the over-allotment option is not exercised.
Zhong An Intelligent Living is a property management service provider headquartered in Hangzhou with a strong presence in Zhejiang province and the Yangtze River Delta Region. Zhong An Intelligent Living has been listed in the Top 100 Property Management Companies in China Mainland (中国物业服务百强企业) since 2016.
Hong Kong Team Lead Partner of KWM’s ECM Practice, Candy Chan and partner John Baptist Chan, with support from Albert Wong, Kevin Ng, May Cui, Rita Li, Claire Li, Cherry Cheung, Leo Sheng, and Penny Pan advised China Merchants Securities (HK) Co., Limited and Huatai Financial Holdings (Hong Kong) Limited on the Hong Kong law aspects of this listing.
Zhong An Intelligent Living’s listing is the 7th successful listing since January 2023 that the Hong Kong ECM Team have completed. So far in the first half of 2023, the team has completed 6 IPOs, 1 global depository receipt (GDR) listing, and the first ever dual primary listing of a Hong Kong listed company in Italy and in the European Union (EU).
Candy Chan said: "We are pleased to have successfully advised Zhong An Intelligent Living on their listing. We look forward to the company’s continued growth and the opportunity to work further with them on capital market matters as their business expands.”
Candy continued, “Our exceptional performance in the first half of 2023 solidifies the firm's position as a trusted advisor for companies seeking to go public. Our team’s unwavering commitment to helping our clients achieve their business goals has been a key factor in our success. We are excited about bringing further landmark transactions to market.”
*The Mainland of China is described as “China Mainland”. 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".
