2月5日,中国短视频平台快手科技在香港联交所主板上市,募集资金约54亿美元。海问律师事务所、瑞生国际律师事务所担任发行人律师;高伟绅律师事务所、通商律师事务所则为承销商提供法律意见。

此交易为2019年9月迄今中国香港特别行政区最大的上市项目,快手成为了中国短视频平台第一股,也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。

快手是中国最广泛使用的社交平台类应用之一,根据艾瑞咨询,快手是全球范围内以虚拟礼物打赏流水及直播平均月付费用户计最大的直播平台,以平均日活跃用户数计第二大的短视频平台,以及以电商交易总额计第二大的直播电商平台。

据财新报道,2月1日快手IPO前夕,中国音像著作权集体管理协会曾发布公告,称快手有1.55亿个视频使用了协会管理的录音制品,要求快手公司删除第一批共计一万条涉嫌侵权视频。不过该侵权指控显然没有影响投资者的热情:据《南华早报》报道,快手开盘价报338港元,几乎是招股价115港元的三倍,快手也成为了10亿美元以上IPO中最成功的首发股之一。

海问团队由合伙人吕雪梅、霍超、马晨铃牵头领导;瑞生国际团队则由香港办事处合伙人苏国瑞、杨长缨、张大颖和邓植之牵头领导。

高伟绅团队由合伙人许文嘉和方刘牵头领导。

迈普达律师事务所在本次交易中担任离岸律师。

该项目联席保荐人和承销商为摩根士丹利、美银证券和华兴证券。

Latham, CC led on Kuaishou’s HK IPO

Haiwen & Partners and Latham & Watkins have advised short video platform Kuaishou Technology on its $5.4 billion IPO in the Hong Kong Stock Exchange. Clifford Chance and Commerce & Finance advised the underwriters.

This is the largest IPO in HKEx since September 2019, with Kuaishou becoming the first listed short video company, and also the third company that become listed in HKEx with weighted voting rights structure. 

Kuaishou is one of the most widely used social media platform in China, providing services including short video sharing, live streaming, e-commerce and online marketing via multiple applications. 

According to Caixin, a day before Kuaishou's offered its shares, the China Audio and Video Copyright Management Association announced that 155 million videos of Kuaishou used recordings managed by the association, and ordered the company to delete the first batch of 10,000 videos suspected of copyright infringement. The infringement allegations did not damper investor enthusiasm. South China Morning Post reported that Kuaishou opened at HK $338, which nearly tripled its offer price of HK $115, making it one of the most successful IPOs of more than $1 billion.  

The Haiwen team was led by partners Xuemei Lv, Chao Huo and Chenling Ma; the Latham team was led by partners Benjamin Su, Cathy Yeung, Daying Zhang and Terris Tang based in Hong Kong office. 

The Clifford Chance team was led by partners Christine Xu and Liu Fang.

Maples and Calder was the offshore lawyer in this IPO.

To contact the editorial team, please email ALBEditor@thomsonreuters.com.