Joy Spreader Interactive Network Technology Co., Ltd (Joy Spreader, stock code: 06988.HK) completed its IPO and listing on the Main Board of the Hong Kong Stock Exchange (HKEX) on September 23, 2020, offering 543.7 million shares (including 271.85 million shares in Hong Kong and 271.85 million shares in the international market) at HKD 2.88 per share and raising over HKD 1.5 billion. The offering generated a high level of interest from institutional and retail investors, and attracted cornerstone investors such as Harvest Capital and Capital Investment LLC with 1,632.92 times of subscriptions in Hong Kong.
Founded in 2008, Joy Spreader is a leading, Chinese performance-based social-media marketing service provider leveraging business intelligence technologies to serve marketers and social media publishers. Joy Spreader is China's most profitable performance-based, social media marketing service provider in 2019 based on revenue.
As the Chinese legal adviser to the issuer, Jingtian & Gongcheng's legal team provided one-stop, end-to-end legal services for the IPO and listing of Joy Spreader, including the legal due diligence under Chinese law, providing legal opinions and responding to regulatory requests, and offering innovative insights into the company's business. We have been a trusted legal advisor to issuer over the past two years, including its listing, further strengthening our relationships with the client.