Skadden, Arps, Slate, Meagher & Flom and Affiliates and Han Kun Law Offices have represented Chinese e-commerce platform Meituan Dianping on its $4.2 billion initial public offering on the Hong Kong Stock Exchange, with Davis Polk & Wardwell and Zhong Lun Law Firm advising the underwriters.
Meituan Dianping is one of China’s super-apps, with 340 million users ordering groceries, paying bills, renting bikes, and booking hotels, said Reuters. The Beijing-based firm is Hong Kong’s second multibillion-dollar tech float this year after smartphone maker Xiaomi Corp’s blockbuster IPO, and also the latest company with a dual-class share structure to file for a listing under the city’s new rules designed to attract tech companies.
Reuters added that Meituan Dianping plans to use the process to upgrade its technology, develop new services and products and pursue acquisitions among other things, according to its IPO filing.
The Skadden team which advised Meituan Dianping was led by Hong Kong partners Julie Gao and Christopher Betts, while Davis Polk team was led by partners Bonnie Y. Chan and Li He. Maples and Calder acted as Cayman Islands counsel to the issuer.
Earlier, Skadden represented Meituan Dianping on its $3 billion series B preferred shares and $4 billion series C preferred shares private placement financing, and on its $2.7 billion acquisition of bike-sharing firm Mobike.
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