Norton Rose Fulbright advises on property services unit spin-off and listing of China’s largest property developer

Global law firm Norton Rose Fulbright has advised Hongkong and Shanghai Banking Corporation (HSBC) and Goldman Sachs (Asia) LLC as the joint sponsors on China’s largest property developer, Country Garden Holdings’ spin-off and listing of its property management services business on the Main Board of the Hong Kong Stock Exchange.

Guangdong-based and Hong Kong-listed Country Garden Holdings will spin-off and list its property services management firm, Country Garden Services Holdings Company, by way of distributions in specie to all shareholders of Country Garden Holdings and listing by introduction.

The Norton Rose Fulbright team of the deal was led by head of Hong Kong Psyche Tai and included Hong Kong partners, Doris Ng and Harold Tin, and associates Timothy Lam and Tracy Ding.

Psyche commented: “This is a significant deal for the region given that Country Gardens is China’s largest property developer. The spin-off will allow Country Garden Services to gain direct access to capital markets for financing. As China continues with its tightened scrutiny of IPOS, more and more Chinese companies will look to Hong Kong listing and financing opportunities and this structure for Country Gardens will make for a successful example to other aspiring companies.”

For further information please contact:

Jessica Seah, Marketing and Communications Manager, Asia. Norton Rose Fulbright
Tel: +852 3405 2327
jessica.seah@nortonrosefulbright.com

Notes for editors:

Norton Rose Fulbright

Norton Rose Fulbright is a global law firm providing the world’s preeminent corporations and financial institutions with a full business law service. The firm has more than 4,000 lawyers and other legal staff based in Europe, the United States, Canada, Latin America, Asia, Australia, Africa and the Middle East.

Recognized for its industry focus, Norton Rose Fulbright is strong across all the key industry sectors: financial institutions; energy; infrastructure, mining and commodities; transport; technology and innovation; and life sciences and healthcare. Through its global risk advisory group, the firm leverages its industry experience with its knowledge of legal, regulatory, compliance and governance issues to provide clients with practical solutions to the legal and regulatory risks facing their businesses.

Norton Rose Fulbright operates in accordance with its global business principles of quality, unity and integrity, aiming to provide the highest possible standard of legal service in each of its offices and to maintain that level of quality at every point of contact.

Norton Rose Fulbright Verein, a Swiss verein, helps coordinate the activities of Norton Rose Fulbright members but does not itself provide legal services to clients. Norton Rose Fulbright has offices in more than 50 cities worldwide, including London, Houston, New York, Toronto, Mexico City, Hong Kong, Sydney and Johannesburg. For more information, see nortonrosefulbright.com/legal-notices.