Babytree’s $218.2 Million Initial Public Offering

Simpson Thacher represented the underwriters in the initial public offering and Rule 144A/Regulation S offering by Babytree Group (“Babytree”).

Babytree offered an aggregate of 250,323,000 Shares (prior to the exercise of the overallotment option), which raised HK$1.7 billion (approximately US$218.2 million) in gross proceeds. The shares of Babytree are listed on the Hong Kong Stock Exchange. Morgan Stanley Asia Limited, Haitong International Capital Limited and China Merchants Securities (HK) Co., Limited acted as the joint sponsors. Morgan Stanley Asia Limited, UBS AG Hong Kong Branch, Haitong International Securities Company Limited and China Merchants Securities (HK) Co., Limited acted as joint global coordinators.

Babytree is the largest and most active maternity and child-focused community platform in China in terms of monthly active users in 2017.

The Simpson Thacher team for the transaction included Chris Wong (Picture), Carol Chan, Brian Mathes and Yi-Ping Chang (Capital Markets); and Jonathan Cantor and Brian Mendick (Tax).

Involved fees earner: Jonathan Cantor – Simpson Thacher & Bartlett; Carol Chan – Simpson Thacher & Bartlett; Yi-Ping Chang – Simpson Thacher & Bartlett; Brian Mathes – Simpson Thacher & Bartlett; Brian Mendick – Simpson Thacher & Bartlett; Christopher Wong – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: China Merchants Securities ; Haitong International Securities Group Limited; Morgan Stanley;