Company News

Huatai Financial Assists Sunac Services’s Listing on the HKEX Main Board

On 19 Nov 2020, Sunac Services Holdings Limited (“Sunac Services”) was successfully listed on the Main Board of the Hong Kong Stock Exchange with stock code of 1516.HK.

Huatai International Financial Holdings Limited (“Huatai International”) acted as Joint Bookrunner and Joint Lead Manager for the deal. This was the fourth Hong Kong IPO deal in property management sector underwritten by Huatai International in 2020, strengthening Huatai International’s absolute leading position in Hong Kong property management sector IPO market.

Sunac Services issued approximately 690 million shares globally at an issue price of HKD11.6 per share, raising a total amount of HKD7.86 billion, or USD1.01 billion (before the exercise of the over-allotment option).

Sunac Services is the fastest-growing large-scale property management service provider with a leading market position in China. According to China Index Academy, the overall growth rate, measured by the average of annual growth rates of Gross Floor Area ("GFA") under management, contracted GFA, revenue and profit for the year, was 94.1% in 2019, ranking highest as compared to the 2019 Large-Scale Top 100 Property Management Companies.