10 February 2014
Mayer Brown JSM has advised ICBC International Capital Limited (ICBC) on the successful listing of Redco Properties Group Limited on the Main Board of The Stock Exchange of Hong Kong Limited on 30 January 2014.
Shenzhen-based Redco Properties is an integrated residential and commercial property developer primarily focusing on residential property development in the PRC. It was among the first batch of listing applicants making a listing application under the New Sponsor Regime which came into effect on 1 October 2013. The majority of the US$128 million proceeds will be used to pay the land premium in respect of the land use rights of new land on property development projects while the remainder will be used for working capital and other general corporate purposes.
The Mayer Brown JSM team included Hong Kong Corporate Finance partner James Fong, consultant Li Guoqing in Beijing, Registered Foreign Consultant Yang Hao (New York, USA), Registered Foreign Lawyer Edward Leung (California, USA) and associate Christine Lau and in Hong Kong.