Slaughter and May, Hong Kong, advised Citigroup Global Markets Limited and CLSA Limited, as the placing agents, in relation to the primary placing of 50,000,000 new shares in S-Enjoy Service Group Co., Limited (S-Enjoy). The net proceeds from the placing are approximately HK$1 billion (approximately US$133 million). S-Enjoy intends to use the net proceeds from the placing for business development or investment, including the acquisition of property management companies and downstream companies that are complementary to S-Enjoy’s community value-added service businesses, and upgrading its information technology infrastructure, as well as for working capital and general corporate purposes. The placing was completed on 23 March 2021.
S-Enjoy is an experienced property management services provider in the PRC, which is engaged in the provision of property management services, such as property and equipment maintenance, security services, cleaning services, gardening services and public area maintenances. S-Enjoy (formerly Xinchengyue Holdings Limited) has been listed on the Main Board of the Stock Exchange of Hong Kong since 6 November 2018.