Jun He, Paul Hastings and Linklaters have advised China SCE Property Holdings Limited (China SCE), a PRC property developer based in Fujian Province, on its approximately US$200m Hong Kong IPO. This marks the first successful IPO by a Chinese property developer in Hong Kong this year.
 
In December 2009, King & Wood was engaged on a US$440m Hong Kong global offering by Shenzhen-based property developer Kaisa Group. Eight other China real estate-related IPOs have raised a combined US$4.9bn in Hong Kong last year, bringing the total number of PRC property-related stocks to 30. Other major property players to have listed include mainland developers Glorious property and Evergrande Real Estate, and Macau casino operator Wynn Resorts.

Paul Hastings remains confident that, with a strong pipeline of IPOs and other capital markets transactions, this year will be a good one.

In 2009, Paul Hastings advised on six completed IPOs in Asia totalling over US$3.5bn. In addition, the firm advised on nine top-up placements, rights issues, or bond offerings totaling over US$1.5bnin value for PRC and Korean issuers.

*International Capital Limited and Macquarie Capital Securities Limited acted as bookrunners and joint lead managers on the offering.

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