Freshfields Bruckhaus Deringer has advised Jinmao Investments and Jinmao (China) Investment Holdings Limited on the global offering and listing of its share stapled units on the Hong Kong Stock Exchange.

The US$414m IPO commenced trading on the Hong Kong Stock Exchange today.

Jinmao Investments is a spin-off by Franshion Properties, a member of the Sinochem Group, and owns Jinmao Tower in Shanghai and eight luxury hotels across China. With today’s listing, Jinmao Investments becomes the second fixed single investment trust listed in Hong Kong with a focus on the hospitality industry.

This deal also marks the fourth listing of a fixed single investment trust on the Hong Kong Stock Exchange, with Freshfields having also advised on the previous three fixed single investment trust listings.

The Freshfields team was led by corporate partner Grace Huang and US corporate partner Ken Martin, both of whom have advised on all of the fixed single investment trust listings in Hong Kong to date.