King & Wood Mallesons (KWM) advised the sole sponsor and underwriters on the HK$760 million global offering and listing of New Hope Service Holdings Limited (New Hope Service, Stock Code: 3658) on the Main Board of The Stock Exchange of Hong Kong Limited (SEHK).
New Hope Service was listed on the SEHK on 25 May 2021. The IPO was priced at HK$3.80 per share and comprised a total of 200,000,000 shares.
New Hope Service is a property management and lifestyle service operator in the PRC with a focus on providing property management services, value-added services to non-property owners, commercial operational services and lifestyle services.
The successful closing marks the seventh Hong Kong listing in the PRC property management sector that the KWM Hong Kong Equity Capital Markets team has advised in recent years. Other recent listings include: C&D Property Management Group Co., Ltd and Financial Street Property Co., Limited in 2020, Poly Property Development Co, Ltd., Sichuan Languang Justbon Group Co., Ltd. and Xinyuan Property Management Service (Cayman) Ltd. in 2019; and Xinchengyue Holdings Limited in 2018.
The team was led by partner Anthony Wan, with support from senior associates Matthew Yim and Crystal Kwok, and associates Derek Yu, Rocky Cheung and Keith Wong.