Clifford Chance has advised property management company China Resources Mixc Lifestyle Services on its $1.6 billion Hong Kong IPO, with Freshfields Bruckhaus Deringer, DeHeng Law Offices and Han Kun Law Offices representing the sponsors.
China Resources Mixc is the services arm of developer China Resources Land.
According to Bloomberg, Chinese developers are spinning off their property management units at a record pace this year to raise funds as the country limits on their debt growth. Some $6.53 billion has been fetched so far from IPOs in the sector, the highest on record, added Bloomberg, with China Evergrande Group’s services arm raising $1.84 billion recently.
The Clifford Chance team was led by partners Amy Lo, Jean Thio and Fang Liu.
To contact the editorial team, please email ALBEditor@thomsonreuters.com.