Freshfields advises on listing of China Merchants Commercial Real Estate Investment TrustFreshfields Bruckhaus Deringer (‘Freshfields’) has advised Citigroup Global Markets Asia Limited, China Merchants Securities (HK) Co., Limited and DBS Asia Capital Limited as the joint global coordinators for the global offering and the listing of the units of China Merchants Commercial Real Estate Investment Trust on the Main Board of the Stock Exchange of Hong Kong Limited. Trading of the units commenced on 10 December 2019. The transaction marked the first time in six years that a REIT has been listed on the Hong Kong exchange. The proceeds of the transaction were approximately US$329m.
China Merchants Commercial REIT is a REIT formed to primarily own and invest in high quality income-generating commercial properties in the PRC, including Hong Kong and Macau. It will initially focus on certain cities within the Greater Bay Area as well as Beijing and Shanghai. It intends to use the proceeds of the IPO to acquire its predecessor group, as well as for general corporate purposes.
The Freshfields team advising on the transaction was led by partner and China Chairman Teresa Ko and partners Calvin Lai and Jason Xu.
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