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Tian Yuan advise Ronshine Service to successfully listed in Hong Kong

2021-07-16

On July 16, 2021, Ronshine Service Holding Co., Ltd ("Ronshine Service") was successfully listed on the main board of Hong Kong Stock Exchange.

Ronshine Services sold about 125 million shares globally, with an issue price of HK $4.88 per share and raised about HK $560 million.

Ronshine Service is a rapidly developing integrated property management service provider, providing diversified property management services for residential and non-residential properties, occupying a stable market position in the coastal region of south China sea and the Yangtze River Delta region, and rapidly expanding its business scope to other economically developed regions in China.

According to the data of China Index Academy, Ronshine Service ranks 19th among the top 100 property service enterprises in China in 2021 based on the comprehensive strength.

Ronshine Service is one of the top 10 growth enterprises of China's top 100 property service enterprises in 2019 and one of the top 100 growth leading enterprises of China's property service enterprises in 2020.

Ronshine Service has been recognized by China Index Academy as one of the top 100 leading enterprises in service quality of China's property services in 2021, one of the leading enterprises in market-oriented operation of China's property management industry in 2021 and one of the leading enterprises in high-end property services in China in 2021.

Tian Yuan Law Firm, as the exclusive sponsor, Haitong International Capital, of Ronshine Service's listing, and the Chinese legal adviser of the underwriting group, participated in the whole project and provided professional and high-quality legal services, which won high praise and unanimous praise from issuers and underwriters.

Rongxin Service is also the eighth property management industry in Tian Yuan Law Firm after Dexin Service (2215), Roiserv (2146), Shimao Service (0873), Financial Street Property (1502), Central China New Life (9983), Yongsheng Life Service (1995) and Binjiang Property (3316)

Tian Yuan successfully helped five companies list on the main board of the Hong Kong Stock Exchange this week, which are:

1 medical and health enterprise: Medlive

1 unprofitable biotechnology company: Brii Biosciences

2 property management companies: Dexin Service and Ronshine Service

1 TMT enterprise: UNQ

Tian Yuan lawyers will continue to keep up with market trends, and are ideal partners for the enterprises’ development in capital market with our deep understanding of the industry, accurate grasp of project audit and efficient communication and cooperation.

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