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JunHe Assists Beijing Capital Land in its Privatization and Delisting from the Hong Kong Stock Exchange


On September 30, 2021, Beijing Capital Land Ltd. (hereinafter referred to as “BCL”, stock code: 02868.HK) voluntarily delisted from the Hong Kong Stock Exchange. The privatization was carried out by the way of absorption of Beijing Capital Land (BCL) by Beijing Capital City Development Group Ltd. (hereinafter referred to as “the merging party”), a wholly owned subsidiary of Beijing Capital Group Ltd. (hereinafter referred to as “BCG”). This is the first privatization of a state-owned H-share listed real estate company and is also the first H-share privatization by a state-owned enterprise affiliated to Beijing municipality in the past decade. 

BCL was listed on the Hong Kong Stock Exchange on June 19, 2003. Its controlling shareholder is BCG, a large state-owned enterprise group affiliated to the Beijing State-owned Assets Supervision and Administration Commission. After years of development, BCL has built up four core business lines: residential development, outlet complexes, urban core complexes and primary land development. It has three innovative segments: high-tech industry real estate, cultural and creative industry, and long-term rental business. With its strong state-owned background, industrial synergy, extensive international cooperation, innovative capital operation, and refined operation and management, its business area has radiated to more than 30 large and medium-sized cities across China. In addition to its own listing platform, BCL owns the Hong Kong listed company, Beijing Capital Grand Limited (stock code: 01329.HK).

As the PRC legal counsel to BCL, JunHe provided high quality, rigorous and efficient legal services. We conducted legal due diligence on BCL, assisted in the succession and take-over of assets, liabilities, equity, business, personnel and contracts and we also assisted the company in regulating the internal and external procedures related to privatization. The earnest working attitude and professional service ability of JunHe earned the trust and recognition of BCL and the other professional institutions. 

The lead partners of this project were ZHANG, Tao, LI, Zhi, MA, Rui and YE, Yurong.

JunHe is the only Chinese law firm to be admitted as a member of Lex Mundi and Multilaw, two international networks of independent law firms. JunHe and selected top law firms in major European and Asian jurisdictions are “best friends.” Through these connections, we provide high quality legal services to clients doing business throughout the world.