King & Wood Mallesons (KWM) advised the sole sponsor, BOCOM International, and the underwriters on the HK$215 million initial public offering (IPO) and the listing of the H-shares of Suxin Joyful Life Services Co., Ltd. (Suxin Services, Stock Code: 2152) on the Main Board of The Stock Exchange of Hong Kong Limited (SEHK).
Suxin Services is a state-owned property management service provider with strong roots in Yangtsze River Delta Region, especially in Suzhou. According to Frost & Sullivan, Suxin Services is ranked 1st in both the property management service market and city service market in Suzhou in terms of revenue in 2021.
This successful closing demonstrates KWM’s strength in the PRC property management sector. Since 2018, KWM’s Hong Kong Equity Capital Markets team has helped more than 10 property management companies list on the SEHK, showcasing our team as the trusted go-to counsel for property management companies looking to list in Hong Kong. Suxin Services is also the 10th state-owned company KWM has helped list in Hong Kong since 2018.
The team advised BOCOM International and the underwriters in respect of Hong Kong laws. The team was led by partner Anthony Wan, with support from Albert Wong and Shirley Yeung, and assistance from international partner Hui Zheng of the KWM Shanghai Office.
*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".
