You are here

Herbert Smith Freehills advises Netjoy’s HK$1.396 billion Hong Kong IPO / 史密夫斐尔律师事务所为云想科技13.96亿港元IPO提供法律服务

17 December 2020 | China
News

Share

Leading global law firm Herbert Smith Freehills has advised Haitong International as the sole sponsor of online marketing solutions provider Netjoy Holdings Limited (HK: 2131)’s mainboard listing on the Stock Exchange of Hong Kong.

Netjoy delivers online marketing solutions through video and content in China, primarily through top online publishers, including Douyin, Huoshan, Xigua Video and Kuaishou.

The IPO raised over HK$1.396 billion (US$180 million), and listed on 17 December 2020.

“Tech IPOs are flourishing in the Hong Kong market,” said Tom Chau, head of the firm’s Beijing office. “In particular we have seen a number of blockbuster offerings by Chinese tech companies in 2020, with many more in the pipeline for next year."

Data shows that Hong Kong has posted a 24% increase in funds raised in 2020 – raising a total of HK$389.9 billion from the 140 IPOs expected to complete by year end. TMT IPOs raised 25% of this total, and accounted for 17% in number. Three out of the top 10 IPOs in the market were from the TMT sector.

“Short video is one of the most dynamic segments of Chinese TMT sector, which nurtures a number of the world's leading short video platform operators and content providers from China,” said Beijing partner Isaac Chen.

According to iResearch, Netjoy holds a market share of 3.6% and 6.3% respectively in short video advertisements and performance-based advertisements placed on short video platforms, ranking top among all the pan-entertainment oriented information websites in terms of average daily active users (DAUs) in China in 2019.

“We are delighted to have worked with Haitong International on this IPO and congratulate Netjoy on this new chapter for the company,” said Herbert Smith Freehills Kewei joint operation partner Stanley Xie.

Tom, Isaac and Stanley led the team advising the sole sponsor, assisted by associates Weili Zhong,  Jasper Wang and Kathy Zhang, and paralegal Daina Wang in Beijing, associate Sean Ji and paralegal Jessica Sun from Herbert Smith Freehills Kewei, as well as senior associates Sherry Lai and Jin Kong, associate Jeffrey Lee, and trainee Sophia Li in Hong Kong. Lawyers Ying Song and Helen Liang, as well as senior legal analyst Yuanyuan Yin from Herbert Smith Freehills Kewei Joint Operation’s Alternative Legal Services business also provided support.

全球领先的律师事务所史密夫斐尔作为云想科技(HK:2131)独家保荐人海通国际的境外律师,为其在香港联交所主板上市提供法律服务。

云想科技是短视频营销解决方案供应商及线上内容服务供应商,主要通过抖音、抖音火山版、西瓜视频及快手等主要网络平台提供在线视频和内容。

云想科技在首次公开募股中融资13.96亿港元(约合1.8亿美元),于2020年12月17日开始在香港联交所交易。

史密夫斐尔北京办公室管理合伙人兼首席代表邹兆麟表示:“科技公司IPO在香港市场欣欣向荣。2020年,我们尤其看到很多来自中国科技公司的上市,以及更多尚在筹备中的中国科技公司IPO。”

相关数据显示,香港资本市场预计在2020年年底前将完成140宗IPO,融资达3899亿港元,融资规模较2019年增长24%。其中,TMT行业的 IPO融资规模占到25%,数量占比达17%。2020年,香港市场排名前十的IPO中,有三宗来自TMT行业。

史密夫斐尔北京办公室合伙人陈敏表示:“短视频是中国TMT行业最具活力的细分领域之一,培育了一大批世界领先的中国短视频平台运营商和内容提供商。”

艾瑞咨询数据显示,云想科技在短视频广告和短视频平台投放的效果类广告细分市场中的占有率分别为3.6%和6.3%,在2019年中国所有泛娱乐类资讯网站平均日均活跃度中排名第一。

科伟史密夫斐尔联营办公室合伙人谢守德表示:“我们很高兴与海通国际在此次IPO中共同合作,并祝贺云想科技在这一时刻开启了新的篇章。”

合伙人邹兆麟、陈敏和谢守德率领律师团队为此次上市独家保荐人提供法律服务。主要团队成员包括北京办公室钟卫利(Associate)、王建平(Associate)、张凯西(Associate)、王黛娜(Paralegal),科伟史密夫斐尔上海联营办公室季晓源(Associate)和孙菁(Paralegal),香港办公室黎翠芬(Senior Associate)、孔瑾(Senior Associate)、李柏濠(Associate)和李若愚(Trainee)。科伟史密夫斐尔联营办公室替代性法律服务(ALT)联合团队宋颖(Lawyer)、梁琳(Lawyer)和尹圆圆(Senior Legal Analyst)也提供了支持。

Key Contacts

Media Contact

For further information on this news article, please contact:

Sally Greig, Head of Communications, Asia

Hong Kong
Tel: 
+852 21014624

VIVIAN HUANG, COMMUNICATIONS MANAGER, CHINA

Beijing
Tel: 
+86 10 65355025