A Halliwells team led by corporate partner Matthew Puhar has advised China Central Properties (CCP) on its admission to AIM. The company raised $500m (£253.31m) on flotation – $300m (£151.99m) in equity and $200m (£101.32m) in five-year convertible bonds. Puhar, who was assisted on the deal by solicitor Kirsty Shannon, said the company’s business interests are based in Hong Kong and mainland China, and that he hopes the listing will bolster institutional appetite for offerings from the region.
CCP’s main focus is on investing in medium to large partially completed projects in major and secondary cities in China that have become available due to their current owners’ financial difficulties. Deutsche Bank acted as the nominated adviser and broker on the deal and was advised by Linklaters’ Hong Kong office.