Advising Vobile Group Limited on Hong Kong IPO
04 Jan 2018
Advising Vobile Group Limited on its initial public offering and listing on Hong Kong Stock Exchange
The firm has advised Vobile Group Limited (Stock code: 3738) on its initial public offering and listing on the Main Board of the Hong Kong Stock Exchange. Simmons & Simmons acted as issuer's Hong Kong counsel to Vobile Group Limited. Silicon Valley-based Vobile Group is the leading provider of online video content protection services.
Priced at HK $2.58 per share, the Global Offering raised approximately HK$143.5m (subject to the exercise of the over-allotment option) with an initial market capitalisation of approximately HK$1.1bn.
Joseph Lee, Hong Kong-based partner commented: "We are delighted to have advised Vobile Group Limited on its successful IPO. Vobile Group Limited leads the way for more technology companies looking to list in the region. Our involvement in this deal highlights the ability of the Simmons & Simmons' team in helping our clients navigate through the Hong Kong regulatory environment, and demonstrates our firm's focus and strength in the TMT sector."
CLSA Capital Markets Limited is the Sole Sponsor to Vobile Group Limited for the listing and CLSA Limited is the Sole Global Coordinator, the Sole Bookrunner and the Sole Lead Manager of the Global Offering.
The Simmons & Simmons team was led by partner, Joseph Lee and managing associate, Christopher Ma. Other members of the team include consultant, Claudia Yiu and associate, Louise Lau.