news
The company name of China Vanke is displayed at a news conference announcing the property developer's interim results in Hong Kong, China August 22, 2016. REUTERS/Bobby Yip/File Photo

Paul Hastings and JunHe have advised Onewo, the property services arm of the developer China Vanke, on its $713 million IPO in Hong Kong, with Herbert Smith Freehills and Commerce & Finance Law Offices advising the joint sponsors.

Vanke, which has weathered China's property sector crisis in better shape than most if its rivals, owns 62.9 percent of property management service provider Onewo and is its biggest customer, Reuters said.

Onewo is one of the largest Hong Kong IPOs in 2022 so far, with the value of deals in the Asian financial hub down nearly 90 percent due to a year of Sino-U.S. tension and a tightening regulatory environment in China, Reuters added.

The Paul Hastings team was led by partners Raymond Li, Vincent Wang, and Fan Chaobo, while the HSF team was led by partners Jeremy Shen, Stanley Xie, and Jin Kong. 

JunHe’s team was led by partners Hu Yijin and Yu Yongqiang, who were supported by partners Dong Xiao, Yuan Qiong, Liu Yang, Ye Yurong, and Yao Jiwei. 

The joint sponsors were CITIC Securities, Citigroup, and Goldman Sachs.

 

TO CONTACT EDITORIAL TEAM, PLEASE EMAIL ALBEDITOR@THOMSONREUTERS.COM

Related Articles

Paul Hastings advises Korean gaming firm on $315 mln IPO

U.S. law firm Paul Hastings has advised Tencent-backed South Korean gaming company Shift Up on its 435-billion-won ($315 million) initial public offering on the Korea Exchange.

CC, Paul Hastings lead on CR Beverages’ HK IPO

by Charlie Wu 吴卓言 |

Clifford Chance and Jingtian & Gongcheng are advising China Resources Beverages, the beverage division of the state-owned China Resources Enterprise, on its upcoming Hong Kong IPO, which is expected to raise up to $1 billion. Paul Hastings and Zhong Lun Law Firm are acting for the joint sponsors.

HK: Corporate lawyer returns to Wilkinson as partner

by Charlie Wu 吴卓言 |

Hong Kong law firm Wilkinson & Grist has welcomed back corporate expert Hulka Lo as a partner from U.S. firm Paul Hastings.