7 October 2020
Deacons advises the joint sponsors Haitong International Capital Limited and CMB International Capital Limited and underwriters in relation to the Main Board IPO of Excellence Commercial Property & Facilities Management Group Limited, seeking to raise up to HK$3,204 million (subject to the exercise of over-allotment option).
The company is a leading commercial property management service provider in China. In terms of the revenue from basic property management services provided to commercial properties in 2019, the company ranked fourth among the commercial property management service providers in China, and second among the commercial property management service providers in the Greater Bay Area, according to a market research report commissioned by the company.
The company published its IPO prospectus on 7 October 2020. The company has attracted nine cornerstone investors, including TENCENT (00700) and JD-SW (09618).
Dealings in its shares on the Main Board of the Hong Kong Stock Exchange are expected to commence on 19 October 2020.
Our team is led by Ronny Chow and Canny Lau, Partners of our Corporate Finance Practice Group.
We have also advised on the debut of three other Chinese property management service providers since late 2018. There has been a wave of companies in this sector seeking to list on the local bourse since 2018.
