Appleby acted as Cayman counsel for Kai Shi China Holdings Company Limited in relation to its listing on the Hong Kong Stock Exchange on 12 January 2012.
The gross proceeds of the listing totalled approximately HK$180 million.
The Appleby team was led by Judy Lee, a Corporate Partner in Appleby’s Hong Kong office, assisted by Associate Chris Cheng. Loong & Yeung advised Kai Shi China Holdings Company Limited (“Kai Shi China”) as to Hong Kong law, while King & Wood PRC Lawyers advised the company as to PRC law. Pang & Co. in association with Salans LLP and Shu Jin Law Firm advised the sponsor and underwriters as to Hong Kong and PRC law respectively. China Merchants Securities (HK) Co., Limited is the sole bookrunner, lead manager and sponsor of the listing.
Kai Shi China is a real estate developer focusing on mid-rank to upscale residential properties in Dalian Lvshunkou, China. The real estate developments are large-scale residential complex comprising low-rise, mid-rise, high-rise apartments, upscale properties such as townhouses, two-family houses, carparking spaces and garages and composite buildings mainly to facilitate the daily needs of the residents.
The proceeds will mainly be used for the acquisition of land in Beihaijiedao that is near Kai Shi Xi Jun for future development of real estate residential project and their headquarters. The remaining will be used for the development of Kai Shi Xi Jun.
Mr. Kai Chenglian, Chairman and Chief Executive of Kai Shi China, emphasised that Hong Kong is one of the three major global financial centres and is the ideal international financing platform for Chinese enterprises to enter the global market. By listing in Hong Kong, Kai Shi China is able to enjoy access to international capital markets. This effect is further augmented by the rapid development of Dalian Lvshunkou, enabling the Group to boost brand awareness with their highly appraised real estate projects.
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