Freshfields Advises Boyu Capital on the successful privatisation of Jinke Smart Services Group Co., Ltd. through an unprecedented offer structure

Global law firm Freshfields is advising Boyu Capital on its successful privatisation of Jinke Smart Services Group Co., Ltd. (“Jinke Smart”), one of China’s leading property management services companies listed on the Hong Kong Stock Exchange (“HKSE”), through an offer structure unprecedented in Hong Kong.

In this transaction, Boyu introduced a two-tier price structure: a base offer price for all shareholders who accept the offer, and an enhanced offer price payable once delisting conditions are met. Boyu further introduced an unprecedented two-options acceptance arrangement, allowing shareholders to accept its offer either unconditionally or conditional upon satisfaction of the delisting conditions. Additionally, Boyu also offered shareholders an option to reinvest all or part of their sale proceeds into offeror’s holding company.

The delisting conditions were fulfilled in January 2026, and Jinke Smart is expected to be delisted from HKSE in February 2026.

The Freshfields team advising on the transaction is led by partner Philip Li, supported by senior associates Dickson Chan, Clara Chang, and Vincent Ko, and associate Liam Li.