Freshfields advises on IPO of Ming Yuan Cloud on HKSE
Freshfields Bruckhaus Deringer (‘Freshfields’) has provided Hong Kong and US law advice to the joint sponsors and the underwriters of the listing of shares of Ming Yuan Cloud Group Holdings Ltd. (‘Ming Yuan Cloud’) on the Hong Kong Stock Exchange (‘HKSE’). The transaction raised proceeds of approximately US$791m (before the exercise of the Over-allotment Option). Trading in the shares commenced today (25 September 2020).
Ming Yuan Cloud provides enterprise-grade ERP solutions and SaaS products to property developers and other industry participants along the real estate value chain in China. In 2019, it was the leading software solution provider for property developers in China by market share, according to industry research. Within this market, it is also the leading provider of both ERP solutions and SaaS products in terms of revenue.
The Freshfields team advising on the transaction was led by partners Calvin Lai and Jason Xu. They were supported by counsel Steven Hsu. Partner Claude Stansbury provided tax advice.
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