On 12 November 2018, Ever Reach Group (Holdings) Company Limited (恒达集团（控股）有限公司) (Stock Name: EVER REACH GP; Stock Code: 3616) was successfully listed on the Main Board of the Stock Exchange of Hong Kong Limited. The Share Offer of EVER REACH GP comprises the International Placing is 270,000,000 Placing Shares and the Hong Kong Public Offering is 30,000,000 Offer Shares. A total 300,000,000 Offer Shares were be made available under the Global Offering. The Offer Price has been determined at HK$1.24 per Share and the net proceeds from the Global Offering are HK$313.2 million (after deducting the underwriting fees and commission and other expenses). The proceeds from the Share Offer would be mainly applied in the following manner: (i) to finance the construction costs for the development of existing projects (including projects under development and future developments); (ii) to finance the costs of land acquisition and construction costs of potential development projects; (iii) the general working capital purposes. China Everbright Capital Limited is appointed as the sole sponsor of the Global Offering.

As the PRC legal advisers to the Sole Sponsor and Sole Global Coordinator of this project, Dentons’ Beijing office, whose service team comprises Senior Consultant Peter Guo, Shuang Liang and Hongjuan Zhao, has provided PRC legal service entirely, including but not limited to legal due diligence, project design of the proposed listing, review of draft PRC legal opinions, relevant PRC legal documents, corresponding sections extracted from the prospectus, and answer the questions concerning the PRC legal issues. This project is the 12th Hong Kong stock listing completed by Dentons Beijing office in 2018.

EVER REACH GP’s development projects cover both residential and commercial units, also derive rental income and service income from project management services. With a strong track record of more than 25 years, EVER REACH GP have been specialising in developing medium-scale to large-scale property projects. EVER REACH GP has footprints in Xuchang City (covering Weidu District, Jian’an District, Yuzhou City, Changge City and Yanling County), Zhengzhou City and Xinyang City of Henan Province. EVER REACH GP were the largest property developer in terms of total gross floor area of residential projects offered for sale in Xuchang City, Henan Province as at 31 December 2017 according to the report of the industry consultant.