Hong Kong team advises state-owned Zhuhai Huafa on its successful privatisation of Huafa Property Services
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I am a partner in our Corporate practice in Hong Kong where, as a corporate finance specialist, I have advised sponsors and issuers on a number of capital market transactions.
Our Hong Kong team recently advised Zhuhai Huafa Properties Co., Ltd. (“Zhuhai Huafa”) in the successful privatisation of Huafa Property Services Group Company Limited (“Huafa Property Services”). Zhuhai Huafa is a PRC state-owned real estate developer listed on the Shanghai Stock Exchange, whereas Huafa Property Services was, prior to the privatisation, listed on the Hong Kong Stock Exchange and a non-wholly owned subsidiary of Zhuhai Huafa engaged in property management.
The transaction was conducted by way of a scheme of arrangement to acquire the remaining shares in Huafa Property Services for total consideration of HK$1.68 billion, followed by its subsequent delisting. Led by partners James Fong and David Cheng, with the support of associate Ivan Wong, our firm provided comprehensive advice on the Hong Kong legal aspects of the privatisation. The team offered strategic guidance on compliance with the Hong Kong Takeovers Code and Listing Rules, liaised closely with the Hong Kong Securities and Futures Commission and Stock Exchange, and coordinated with financial advisers and legal counsels from other jurisdictions to ensure smooth and successful execution of this complex transaction.
This achievement showcases our expertise in handling cross-border corporate matters and navigating intricate regulatory frameworks, and highlights the firm’s ability to deliver tailored and practical legal solutions in high-profile public M&A projects.