香港分所
Jingtian & Gongcheng Advises on Cloud Village's Listing in Hong Kong
Date:2021-12-02

Cloud Village Inc. (“Cloud Village”; Stock Code: 09899.HK) completed its IPO and listing on the Main Board of the Hong Kong Stock Exchange on December 2, 2021. The company offered 16 million shares at HK$205 per share, expecting to raise approximately HK$3.28 billion for continually cultivating its community, innovating and improving its technological capabilities, selected mergers, acquisitions, strategic investments and general corporate purposes.

Introduced by NetEase Inc. (NASDAQ: NTES and HKEX: 09999.HK) in 2013, Cloud Village is a Chinese leading interactive music streaming service provider. The company is committed to improving its user experience, providing targeted and personalized content recommendations, encouraging user interactions and building a strong social community. The company focuses on discovering and promoting new musicians, to make itself the preferred destination for Chinese music enthusiasts to explore new music and original music. According to a CIC report, the company is recognized as the most popular online music platform in China among the post-90s.

As the Chinese legal adviser to the co-sponsor and the underwriter, Jingtian & Gongcheng's legal team provided comprehensive and full-process legal services for the IPO and listing of Cloud Village, including conducting Chinese legal due diligence, assisting in third-party legal due diligence, paying visits, assisting in analyzing and addressing key legal problems, participating in the preparation of listing application documents and assisting in answering inquiries from the regulator, and overcame difficulties caused by the COVID-19 to successfully finish the IPO-related legal work, gaining unanimous recognition from the client and intermediaries.

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