Davis Polk Advises Red Star Macalline on Hong Kong IPO
The mainland home-improvement and furniture retailer will use the $925 million raised in its initial public offering to open nine new specialty malls and seek further expansion through acquisitions.
June 25, 2015 at 08:17 PM
1 minute read
Davis Polk & Wardwell has advised Shanghai-based Red Star Macalline Group Corp. Ltd. on a $925 million initial public offering in Hong Kong.
The home-improvement and furniture retailer operates 158 specialty malls in 115 cities in mainland China. The bulk of the proceeds will go toward the development of nine new shopping malls and acquisitions of similar companies in the market. Red Star Macalline shares began trading on Friday.
Davis Polk Hong Kong partners Bonnie Chan and Antony Dapiran, along with Beijing partner Li He, acted for the issuer. Llinks Law Offices served as Chinese counsel.
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