Video sharing platform Kuaishou went public in Hong Kong on 5 February, raising about HK$42 billion (US$5.42 billion). The company’s shares jumped 161% on debut. Kuaishou is one of the most widely used social platforms in China, with an average 305 million daily active users as of 30 September 2020.
Haiwen & Partners acted as China counsel to Kuaishou, while Latham & Watkins provided legal opinions on Hong Kong and US laws, and Maples Group acted as Cayman Islands counsel. Commerce & Finance Law Offices was PRC legal counsel to the sponsors and underwriters, while Clifford Chance was the Hong Kong and US legal adviser.
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