30 June 2021
Deacons advises the sole sponsor Haitong International Capital Limited and underwriters in relation to the Main Board IPO of Ronshine Service Holding Co., Ltd (Stock Code: 2207), seeking to raise up to approximately HK$704 million (subject to the exercise of over-allotment option).
Ronshine Service is a comprehensive property management services provider in China. It was ranked 19th, 20th and 24th among the Top 100 Property Management Companies in the PRC in terms of overall strength in 2021, 2020 and 2019 (2021中國物業服務百強企業第19名，2020中國物業服務百強企業第 20名和2019年中國物業服務百強企業第24名), respectively, according to a market research report commissioned by the company.
The company published its IPO prospectus on 30 June 2021. Dealings in its shares on the Main Board of the Hong Kong Stock Exchange are expected to commence on 16 July 2021.
In addition to Ronshine Service, we have also advised on the debut of seven other Chinese property management service providers on the local bourse (including the IPO of Landsea Green Life (Stock Code: 1965) launched on 25 June 2021) in the last three years.
