First Rmb-denominated REIT lists in Hong Kong
June 01, 2011 | BY
clpstaff &clp articlesIn the first renminbi (Rmb)-denominated initial public offering (IPO) outside mainland China, Hui Xian Real Estate Investment Trust (Hui Xian REIT) has…
In the first renminbi (Rmb)-denominated initial public offering (IPO) outside mainland China, Hui Xian Real Estate Investment Trust (Hui Xian REIT) has listed on the Hong Kong Stock Exchange. It raised Rmb 10.48 billion (US$1.61 billion).
The issuer is a unit of the Cheung Kong Group and it focuses on commercial properties in Beijing.
The underwriters were Citic Securities International, HSBC and BOC International.
Hui Xian REIT was advised by Woo Kwan Lee & Lo on Hong Kong law aspects and by Commerce & Finace Law Offices as to PRC law. A Guantao Law Firm team, led by Cui Liguo, Dong Jianjin and Zhan Yonghong acted for the underwriters as their China counsel. A Hong Kong-based Linklaters team also advised the underwriters. Wilkinson & Grist served as Cayman Islands counsel.
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