Sidley represented Joy Spreader Interactive Technology. Ltd (HKEX:6988) (Joy Spreader) as Hong Kong counsel in its initial public offering (IPO) on the Main Board of the Stock Exchange of Hong Kong. The offering raised net proceeds of HK$1.56 billion (approximately US$200 million). China Securities (International) Corporate Finance Company Limited, China Merchants Securities (HK) Co., Limited, and BOCOM International (Asia) Limited acted as joint sponsors for the transaction.
Joy Spreader received strategic investments from cornerstone investors and their subscription of shares, including Acuitas Group Holdings LLC, Capital Investment LLC, Harvest Alternative Investment Opportunities SPC, and Yeahka Limited (HKEX:9923).
Founded in 2008, Joy Spreader is one of a leading performance-based we-media marketing service providers in China, leveraging business intelligence technologies to serve marketers and we-media publishers.
The Sidley team was led by partners Mengyu Lu and Meng Ding. Other team members included senior associate Samantha Peng, legal manager Sierra Tao, China advisors Pianpian Chen and Chris Wang, associates Bill Feng and Jenny Han, and legal assistants Kaiwen Xu and Ashley Guo.
Sidley is identified as a number one IPO law firm in Hong Kong. According to the most recent data compiled by RyanBen Capital, Sidley remains the number one legal adviser in the Hong Kong IPO league table by deal volume in the past 24 months (August 2018 to July 2020).
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