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Allen & Overy advises on Duiba Group Limited’s global offering and the listing on the Stock Exchange of Hong Kong

 

07 May 2019

Allen & Overy has advised Duiba Group Limited (Duiba), as its Hong Kong and US legal advisers, in connection with its global offering and the listing on the Stock Exchange of Hong Kong.

Duiba is a user management SaaS provider for online businesses and the leading interactive advertising platform operator in China. It ranked first in (i) China’s user management SaaS market in terms of the number of registered mobile apps as of December 31, 2018 each with DAUs above one million; and (ii) China’s mobile interactive advertising market in terms of revenue in 2018, with a market share of over 50%, according to iResearch.

The underwriting syndicate comprises seven banks with CMBI and HSBC acting as the joint sponsors and joint global coordinators. Other underwriters included BOCI, AMTD, ABCI, China Industrial Securities International and Guotai Junan.

The A&O team was led by Corporate partner Lina Lee, with support from Evan Tsang, Shue Sing Churk, Matthew Chan and Dilys Hung. International Capital Markets partner Alex Tao and Of Counsel Kung-Wei Liu advised on the US securities issues with support of Olivia Lin. US partner Marc Ponchione advised on the Investment Company Act of 1940, as amended related matters and US tax partner Jack Heinberg and US tax lawyer Dave Dustin advised on US tax aspect.

Partner Lina Lee commented: “We are pleased to have been involved in the listing of Duiba, bringing this young, fast-growing company to the international capital markets. This also highlights A&O’s commitment to providing legal solutions to clients in the TMT sector, helping them to achieve their development goals.”

Of Counsel Kung-Wei Liu added: “We are thrilled to advise a truly innovative business led by the young and vibrant management team.”

For further information, please contact Madhu Mirpuri (madhu.mirpuri@allenovery.com) on +852 29747377.​

 

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