Hogan Lovells has advised the underwriters, including Morgan Stanley Asia Limited, Citigroup Global Markets Asia Limited, Standard Chartered Securities (Hong Kong) Limited, BOCOM International Securities Limited, First Shanghai Securities Limited and CCB International Capital Limited, on the Hong Kong IPO and Rule 144A placing of CIFI Holdings (Group) Co., Ltd. (“CIFI“), a PRC real estate developer.
The IPO price was set at HK$1.33 per share, raising approximately US$214 million. CIFI was listed on the Main Board of the Hong Kong Stock Exchange on 23 November 2012.
Founded in 2000, CIFI is a Shanghai-based company with a total of 43 property projects in 11 mainland cities across the Yangtze River Delta Region, the Bohai Economic Rim and the Central Western Region.
The Hogan Lovells team was led by Hong Kong-based partner Terence Lau and U.S. securities partner Man Chiu Lee, supported by consultant Nelson Tang and associates Sheryl Cheung and Kevin Liu.
Commenting on the transaction, Terence said:
“This was the first mainland property developer listed in Hong Kong this year. We are very pleased to have advised on the listing amid the tough market conditions.”
