2021.12.02
On December 2nd, 2021, Cloud Village Inc. ("Cloud Village") completed its IPO on the Main Board of the Hong Kong Stock Exchange. The global offering consisted of 16 million common shares at the price of HK$205 per share, which was expected to raise around HK$ 3.28 billion.
Cloud Village is a leading interactive music video streaming provider in China, which was launched in 2013 by its parent company NetEase, Inc. The company is committed to improving the user experience and providing accurate and personalized recommendations while promoting user interaction and building a strong social community. Cloud Village has built a large, dynamic, robust and fast-growing business, while providing community-centric online music and social entertainment services, through its iconic key products such as "cloud village" and other affiliated social entertainment products, such as "look live", "Shengbo" and "Netease K". Music lovers can independently explore, enjoy, share and create different music and music derivative content and interact with others through a variety of technology driven tools.
JunHe acted as the PRC legal counsel for the issuer in the project and provided legal services such as legal due diligence and reviewing and revising the prospectus and the application and issuance documents related to the IPO. The team issued PRC legal opinions and assisted the issuer in actively responding to the PRC legal compliance concerns raised by the Hong Kong Securities Regulatory Commission and the Hong Kong Stock Exchange, and finally obtain the full approvals of the regulatory authorities. JunHe's team was highly recognized by the client and the other intermediaries for its working attitude and professional expertise.
The leading partners of this project were Mr. WANG, Jiangang, Mr. YI, Yisong and Ms. LEI, Tianxiao. The partner for the internal review was Mr. TAO, Xudong.
