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Clifford Chance

Clifford Chance
News and awards

News and awards

Clifford Chance advises on Kuaishou Technology's US$5.4 billion Hong Kong IPO and Listing

5 February 2021

Clifford Chance advises on Kuaishou Technology's US$5.4 billion Hong Kong IPO and Listing

Leading international law firm Clifford Chance has advised the joint sponsors and underwriters including Morgan Stanley, Bank of America and China Renaissance Securities on short video social platform Kuaishou Technology's US$5.4 billion initial public offering and listing on the main board of the Hong Kong Stock Exchange. The IPO is Hong Kong's largest technology IPO in history and the world's largest by a technology company since Uber Technologies' in 2019. The retail tranche was more than 1,200 times oversubscribed, making it the most oversubscribed deal in Hong Kong.

Kuaishou is among the most widely-used social platforms in China, providing short video sharing, live streaming, e-commerce, online marketing and other services through various apps. It is the third primary listing in Hong Kong with a weighted voting rights structure.

Partners Christine Xu and Fang Liu co-led on the deal, with support from a team which includes senior associates Janet Tang, Queenie Tong, Erxin Lu and Qingqing Bu and associates Jason Liu, Tao Yang and Dichun Duan.

Christine said, "We are honoured to advise on Kuaishou's landmark debut listing, the largest in Hong Kong in two years. In addition to reaffirming the attractiveness of the city's capital markets to high-growth tech companies, this IPO highlights our team's expertise as a regional tech powerhouse advising the most innovative and complex technology companies."

Clifford Chance has advised on many of the most significant IPOs in Hong Kong, including JD.com's US$3.87 billion IPO and secondary listing and Nongfu Spring's US$1.08 billion IPO.

高伟绅助力快手科技54亿美元首次公开发行和香港上市

国际领先律师事务所高伟绅就短视频社交平台公司快手科技54亿美元首次公开发行和香港联交所主板上市,为联席保荐人和承销商包括摩根士丹利、美银证券和华兴证券提供法律服务。该项目是香港历年来最大的科技公司上市项目,也是自2019年优步上市后全球规模最大的科技公司上市项目。其中公开发售超额认购逾1200倍,创联交所历史记录。

快手是中国最广泛使用的社交平台类应用之一,通过多个应用提供短视频分享、实时流媒体、电子商务、在线营销等服务。快手科技是第三家采用同股不同权结构的以香港为主上市地的公司。

许文嘉律师表示:“我们很荣幸参与快手科技具有里程碑意义的上市项目。该项目是两年来香港最大的上市项目,彰显了香港资本市场对高成长科技公司的吸引力,也体现了高伟绅团队作为亚太地区顶级的科技业务团队在为最为创新、复杂的科技公司上市项目提供法律服务方面的卓越能力。”

本项目由合伙人许文嘉和方刘共同牵头,团队成员包括邓敏蔚、唐嘉雯、陆尔馨、卜青青、 廖进仁、杨弢和段棣淳。

高伟绅曾参与多项最重大的香港上市项目,包括京东38.7亿美元首次公开发行和第二上市农夫山泉10.8亿美元首次公开发行