2019.03.06
On March 6th 2019, YINCHENG INTERNATIONAL HOLDING CO., LTD. (“YINCHENG INTERNATIOANL”, stock code: 1902.HK) was successfully listed on the mainboard of the HKEx, the issuing price was HKD 2.38 per share, the net amount of the raising fund was HKD XXX million.
YINCHENG INTERNATIONAL is a mature real estate developer focusing on the development of high-quality residence for clients of all ages in Yangtze River Delta region, developing and selling the residence and property services to mid-high income families is its business. YINCHENG INTERNATIONAL was ranked 93th among the top 100 domestic real estate corporates in 2018 and was awarded among the top 10 real estate developers in the JIANGSU Province. Since 2002, YINCHENG INTERNATIONAL has constantly been awarded as one of the top 50 corporates in comprehensive strength by the JIANGSU Province real estate association and was ranked 2nd in 2017.
The JunHe team acted as PRC legal counsel to the exclusive sponsor of this project and provided a series of legal services which included, the debating of the restructure plan, due diligence and interview on the domestic entities, assisting the firm to cope with some reforming and compliance measures, and giving detailed responses to the PRC legal issues of the HKEx’s concern. The difficulties of the project were 1) the numerous subsidiaries and under-construction buildings of YINCHENG INTERNATIONAL, 2) the timetable of the project was relatively tough. The JunHe team’s rigorous working style and professional working attitude were both highly recognized by YINCHENG INTERNATIONAL, the exclusive sponsor and other intermediaries.
The leading partners for the project were Mrs. LIU, Ning, Mr. WANG, Yi and Mr. JIANG, Wenjun (Kelvin).
