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Latham Advises China Jinmao and Jinmao Services on Spin-Off Hong Kong IPO

March 10, 2022
Greater China team represents leading high-end property management provider on listing on HKEX.

Latham & Watkins has advised Jinmao Property Services Co. Limited (Jinmao Services) on its HK$825 million initial public offering on the Main Board of The Stock Exchange of Hong Kong Limited (HKEX). The global offering consisted of approximately 101.4 million shares (subject to the the Over-allotment Option) sold at a final offer price of HK$8.14 per share. The final offer share number if the Over-allotment Option is exercised in full is approximately 116.6 million shares. CICC and HSBC acted as joint sponsors on the offering.

Jinmao Services, backed by China Jinmao Holdings Group Limited, an urban operation platform of Sinochem Holdings Corporation Ltd., a fortune global 500 company, is a fast-growing high-end property management and urban operation service provider in China, managing a diversified property portfolio covering residential properties and non-residential services.

The Latham team was led by Hong Kong partners Cathy Yeung, Terris Tang, and Daying Zhang, with counsel Ning Li; associates Xueting Zhong, Jonathan Leung, and Yujie Zhang; and foreign legal consultants Cheng Wang and Cassey Wu.