PRC real estate developer Yanlord Land Group Limited has closed its initial public offering of 242 million ordinary shares on the Singapore Exchange Securities Trading Limited.

The offering raised S$262m (US$164m) and comprised of a public offer of three million shares in Singapore and an international placement of 239 million shares to qualified institutional buyers in the US in reliance on Rule 144A and to persons outside the US in reliance on Regulation S.

Wang Daofu led the Yuan Tai Law Offices team advising Yanlord on local PRC law issues, while a Stamford Law Corporation team led by partner Ng Joo Khin and associate Vanessa Ng acted as Singapore counsel to the issuer.

Meanwhile, underwriters HL Bank and CLSA Asia-Pacific Markets turned to a Latham & Watkins team led by Hong Kong partner David Zhang, Singapore partner Michael Sturrock and Hong Kong of counsel Eugene Lee on US law issues.

Partners Wong Kok Hoe and Liew Lan Hing led the Rajah & Tann team advising the underwriters on Singapore law matters.

Yanlord is a real estate developer based in China that focuses on developing high-end residential property projects in strategically selected key and high-growth cities in the PRC.