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O’Melveny Represents Underwriters in Spin-Off and Listing of Central China Management

May 31, 2021

FOR IMMEDIATE RELEASE

HONG KONG—May 31, 2021—O’Melveny recently represented BNP Paribas, China Construction Bank International, Industrial and Commercial Bank of China International and other underwriters in the spin-off and listing on the Hong Kong Stock Exchange (HKSE) of Central China Management Company Limited.

The spin-off is a demerger effecting the separation of the project management business from other businesses of the Central China Real Estate Limited (HKSE.832) and a separate listing on the HKSE. The listing raises approximately US$126 million.

China Central Management is the second Chinese project management company to list on the HKSE. The transaction is subject to the requirements of Practice Note 15 (PN15), under which China Central Real Estate Limited was required to make a PN15 application and obtain approval of the HKSE in order to spin off Central China Management. The deal structure involves a distribution-in-specie and preferential offering of Central China Real Estate Limited, and a global offering by China Central Management.

Strategically focused on Henan province, China Central Management is a leading and fast-growing project management company in terms of aggregate gross floor area sold and compound annual growth rate for total sales amounts for projects under management.

Central China Real Estate’s CEO and executive director Mr. Felix Wang said: “we truly appreciate O’Melveny’s support for Central China Management.  From initial planning at the start of the project, to their drafting of a high quality prospectus, to appropriately handling underwriting matters, O’Melveny made great contributions to the success of this project.”

O’Melveny corporate partner Edwin Kwok led the team advising on this transaction, and was supported by capital markets counsel Vincent Lin, Lillian Cheung, and Qianyu Hu, associates Yuki Tsang and Qianru Hong, and Hong Kong trainee solicitors Cherry Ma and Ronald Lam.

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Contact:

Christopher Rieck
O’Melveny & Myers LLP
+1 212 326 2218
crieck@omm.com

Chris Schob
O’Melveny & Myers LLP
+86 21 2307 7000
cschob@omm.com