Freshfields Advised Boyu Capital on the Successful Privatization of Jinke Smart Services Group Co., Ltd. through an Unprecedented Offer Structure

Freshfields Advised Boyu Capital on the Successful Privatisation of Jinke Smart Services Group Co., Ltd. through an Unprecedented Offer Structure

Global law firm Freshfields has advised Boyu Capital on its successful privatisation of Jinke Smart Services Group Co., Ltd. (“Jinke Smart”), one of China’s leading property management services companies listed on the Hong Kong Stock Exchange (“HKSE”), through an offer structure unprecedented in Hong Kong.

In this transaction, Boyu introduced a two-tier price structure: a base offer price for all shareholders who accept the offer, and an enhanced offer price payable once delisting conditions are met. Boyu further introduced an unprecedented two-options acceptance arrangement, allowing shareholders to accept its offer either unconditionally or conditional upon satisfaction of the delisting conditions. Additionally, Boyu also offered shareholders an option to reinvest all or part of their sale proceeds into offeror’s holding company.

The delisting conditions were fulfilled in January 2026, and Jinke Smart is expected to be delisted from HKSE in February 2026.

The Freshfields team that advised on the transaction was led by Philip Li (Partner), supported by Dickson Chan (Senior Associate), Clara Chang (Senior Associate), and Vincent Ko (Associate), and Liam Li (Associate).

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