Paul Hastings Advises on Two More Hong Kong IPOs

July 11, 2014

Hong Kong (July 10, 2014) - Paul Hastings, a leading global law firm, announced today that the firm advised the underwriters on two Hong Kong listings by China New City Commercial Development Limited (“China New City”) and Hung Fook Tong Group Holdings Limited (“Hung Fook Tong”).

We advised BOCOM International (Asia) Limited, BOCOM International Securities Limited, Haitong International Securities Company Limited, KGI Capital Asia Limited and GF Securities (Hong Kong) Brokerage Limited as counsel to the underwriters on the global offering and Hong Kong IPO of China New City on the Main Board of the Hong Kong Stock Exchange (“SEHK”). Listed on July 10, 2014, the listing involved spinning-off China New City from Zhong An Real Estate, a Hong Kong-listed PRC real estate developer, by way of a separate listing of China New City’s shares on the SEHK.

China New City is a commercial property developer, owner and operator, with a focus on developing integrated commercial complexes in China.

Paul Hastings also advised Crosby Securities Limited and Shenyin Wanguo Capital (H.K.) Limited as counsel to the underwriters on the global offering and Hong Kong IPO of Hung Fook Tong on the Main Board of the SEHK. Listed on July 4, 2014, Hung Fook Tong is a retailer of Chinese herbal drinks, soups and tortoise herbal jelly in Hong Kong.

Both transactions were led by capital markets partners Raymond Li, Chair of Greater China and Sammy Li, Chair of the Hong Kong office.

Of counsel Edwin Kwok, associates Catherine Chu, Su-Li Chan, Winfield Lau, and trainee solicitor Vivian Lee advised on the China New City offering.

Associates Eric Chow, Su-Li Chan, and Samson Suen advised on the Hung Fook Tong offering.

Our Hong Kong capital markets team completed three other Hong Kong listings in the past three weeks, namely China Vanke, Chanjet Information Technology and Koradior.

Paul Hastings is a leading global law firm with a strong presence throughout Asia, Europe, Latin America, and the United States. Through a collaborative approach, entrepreneurial spirit, and commitment to client service, the professionals of Paul Hastings deliver innovative solutions to many of the world’s top financial institutions and Fortune 500 companies.