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Freshfields advises on spin-off listing of Cloud Village Inc. on HKSE
Freshfields Bruckhaus Deringer (‘Freshfields’) has advised China International Capital Corporation Hong Kong Securities Ltd., Credit Suisse (Hong Kong) Ltd. and Merrill Lynch (Asia Pacific) Ltd., the joint sponsors and the underwriters of the global offering and listing of shares of Cloud Village Inc. on the Hong Kong Stock Exchange (‘HKSE’). The global offering raised proceeds of approximately US$422m (before any exercise of the Over-allotment Option). Trading in the shares commenced today (2 December 2021).
A subsidiary of leading China-based internet company NetEase, Cloud Village Inc. is a leading online music platform featuring an interactive content community for its large and highly engaged user base of music enthusiasts. It has been operating since 2013.
The Freshfields team advising on the transaction was led by partner and China Chairman Teresa Ko, partner and head of China ECM Richard Wang, and partner Calvin Lai. They were supported by senior associates Sabrina Ma and Yi Zhang and associates Ronald Hui, Yihong Zhu, Frank Fan and Silver Yu.
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