Jinmao Property Services Co., Limited (“Jinmao Services“) is part of China Jinmao Holdings Group Limited (“China Jinmao”), a subsidiary of Sinochem Holdings Corporation Ltd., a Fortune 500 company. Jinmao Services is a fast-growing upscale property management and city operation service provider in China, and provides property management services, value-added services to non-property owners and community value-added services.

The listing of the ordinary shares of Jinmao Services (Stock code: 00816) on the Main Board of The Stock Exchange of Hong Kong Limited and the closing of the global offering took place on March 10, 2022, making Jinmao Services the first successful Hong Kong property sector IPO in 2022. The global offering consisted of approximately 101.4 million shares (prior to the exercise of the over-allotment option) valued at the high-end of the offer price range of HK$8.14 per share, for a total offering of approximately HK$825 million. If the over-allotment is fully exercised, the total offering will amount to approximately HK$949 million. In addition to the global offering of 101.4 million shares of Jinmao Services (prior to the exercise of the over-allotment option), the offering also involves distribution by China Jinmao (Stock code: 00817), the controlling shareholder of Jinmao Services, of approximately 191 million shares of Jinmao Services (the “Distribution“) to eligible shareholders of China Jinmao. The global offering also consisted of an offer size adjustment option and distribution adjustment to provide flexibility for adjustments to the global offering and the Distribution, respectively.

Fangda acted as Hong Kong and US counsel to CICC and HSBC as joint sponsors of the listing, together with CLSA Limited and Essence International as joint global coordinators, and other members of the underwriting syndicate including ABCI, CCB International, CMB International, Huarong International , Huatai, Shenwan Hongyuan and Livermore.

The Fangda Hong Kong and US team was led by partners Colin Law, Christine Chen, Edward Bong, and Lawrence Wang, and the team members comprised of Jonathan Wallenberger, Ding Hong, Eric Li, Tracy Ho, Jennifer Chen , Jennifer Mok, Lizzie Cheong and Krystal Dong.