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Maples and Calder acted as the Cayman Islands legal adviser in the initial public offering by China Real Estate Information Corporation (the "Company") of American Depositary Receipts on the NASDAQ Global Market. Trading commenced on 16 October 2009 and the Company raised approximately US$248 million. Partner Greg Knowles led the Maples' team. The Company is a subsidiary of E-House China Holdings Limited ("E-House") and it is a provider of real estate information and consulting services based in Shanghai. Following the IPO, the Company will acquire the online real estate business operated by SINA Corporation ("SINA") and SINA will in turn acquire a large stake in the Company.
E-House will remain its parent company and controlling shareholder after the offering. Skadden, Arps, Slate, Meagher & Flom acted as the Company's counsel whilst the Underwriters were represented by O'Melveny & Myers. Shearman & Sterling advised SINA on its sale of the online real estate business.
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