Haiwen & Partners, Jingtian & Gongcheng and Harneys has advised on Newborn Town’s acquisition of Chizicheng Strategy Investment from parent Spriver, effectively acquiring global LGBTQ digital platform BlueCity and its affiliates.
Newborn Town already had an interest in BlueCity via Metaclass Management ELP, which participated in the privatisation and delisting of the LGBTQ platform from the Nasdaq in 2022. Chizicheng was the general partner to Metaclass in the BlueCity privatisation.
International partner Isaac Chen led the Haiwen team, advising Newborn Town on Hong Kong law, while Jingtian & Gongcheng assisted the diversified social networking services company with PRC law.
Newborn Town is a global social media company listed on the Hong Kong Stock Exchange, which creates new video and audio apps such as Yumy, Mico, YoHo, etc.