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Zhongan Smart Life was successfully listed in Hong Kong, receiving joint endorsements from International and Huatai International

瑞恩資本Ryanben Capital ·  Jul 18, 2023 13:27

On July 18, 2023, split fromZhongan Group(00672.HK)Zhongan Smart Life Service Co., Ltd. Zhong An Intelligent Living Service Limited (abbreviation”Zhongan Smart Life”) (02271.HK), successfully listed on the main board of the Hong Kong Stock Exchange.

Zhongan Smart LifeIt was founded in 1998 and is headquartered in Hangzhou. According to the China Index Institute, in terms of comprehensive property management strength, the company ranked 42nd among the top 100 property service enterprises in China in 2022. As of December 31, 2022,Zhongan Smart LifeA total of 95 projects are managed, with a total construction area of about 12.8 million square meters, covering 11 cities and 3 provinces in China; there are 139 contract projects with a total contract construction area of about 19.4 million square meters, covering 19 cities and 7 provinces in China.Zhongan Smart LifeIt is a member company of Zhongan Group (00672.HK). As of December 31, 2022, the property development projects managed by Zhongan Group and China New City Group accounted for about 53.3% of the total construction area managed by the company.

Zhongan Smart LifeThis is the IPO global sale126,66.8 million shares(Before the exercise of over-allotment rights), the issue price was HK$1.18 per share, and the total capital raised was approximately HK$149 million. If the shares are overallocated, a maximum of 19 million additional shares can be issued, and the maximum additional capital raised is about HK$22.42 million.

Zhongan Smart LifeThe IPO introduced 2 cornerstone investors and purchased a total of about HK$209.89 million of shares for sale. Among them, Wu Yonggen subscribed for RMB 10 million (about HK$10.999 million) through Heyuan Trading, and Wu Mingwu, Chairman and CEO of Mountain Eagle International (600567.SH), purchased 10 million Hong Kong dollars of shares for sale.

According to the prospectus,Zhongan Smart LifeIn the shareholder structure after listing,Mr. Shi Zhongan(Also known as Shi Kancheng) holds 57.89% of the sharesZhongan Group(00672.HK) holds 75% of the shares;Public shareholdersHolds 25% of the shares.

As of the midday market closing,Zhongan Smart LifeEach share was reported at HK$1.15, a decrease of 2.54%, with a total market capitalization of around HK$583 million.

Zhongan Smart Life (02271.HK)'s main intermediary team for this IPO listing includes:

China Merchants Securities International and Huatai International are their co-sponsors, overall coordinators, joint global coordinators, joint bookkeepers, and co-lead managers;

Guotai Junan, CCB International, and Shengli Securities are their joint bookkeepers and co-lead managers;

Ernst & Young is its auditor;

Jingtian Gongcheng and Jingtian Gongcheng (Hong Kong) are their company's Chinese lawyers and the company's Hong Kong lawyers, respectively;

Tong Commerce and KWM are Chinese lawyers for their brokerage firms and Hong Kong lawyers for brokerage firms;

China indicates that the Research Institute is its industry consultant.

Zhongan Smart Life prospectus link:

https://www1.hkexnews.hk/listedco/listconews/sehk/2023/0630/2023063000210_c.pdf

The translation is provided by third-party software.


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