Fulu Holdings Limited’s HK$826.6 Million IPO

Harneys and Latham & Watkins to Fulu Holdings Limited on the transaction. Wilson Sonsini Goodrich & Rosati advised the underwriters on the deal.

Fulu Holdings Limited listed on the Main Board of the Hong Kong Stock Exchange on 18 September 2020, raising approximately HK$826.6 million in net proceeds. The IPO was sponsored by CMB International Capital Limited (CMBIC).

Fulu Holdings Limited is a leading third-party virtual goods and services provider in China. The company’s platform facilitates the business to business sale of virtual goods and generates revenues through sales channels and services to vendors.

The Harneys team was led by Partner Raymond Ng (Picture) with support from Legal Manager Nicholas Fong. Harneys’ associated corporate and fiduciary services arm, Harneys Fiduciary, provided registered office and principal share registrar services. Onshore legal counsel to Fulu Holdings comprised Latham & Watkins LLP and CM Law Firm, while Wilson Sonsini Goodrich & Rosati and Tian Yuan Law Firm acted for CMBIC.

The Latham team representing Fulu was led by Hong Kong partners Allen Wang and Cathy Yeung, with partners Terris Tang and Dominik Sklenar, counsel Wei Wei, and associates George Zheng and Yan Zhang.

The Wilson Sonsini team was led by partner Wanda Woo and included Wenxin Gu, Billy Yiu, Cosimo Chow, Chloe Lau, and Lanhuan Wei.

Involved fees earner: Nicholas Fong – Harneys; Raymond Ng – Harneys; Dominik Sklenar – Latham & Watkins; Terris Tang – Latham & Watkins; Allen Wang – Latham & Watkins; Wei Wei – Latham & Watkins; Cathy Yeung – Latham & Watkins; Yan Zhang – Latham & Watkins; George Zheng – Latham & Watkins; Cosimo Chow – Wilson Sonsini Goodrich & Rosati; Wenxin Gu – Wilson Sonsini Goodrich & Rosati; Chloe Lau – Wilson Sonsini Goodrich & Rosati; Lanhuan Wei – Wilson Sonsini Goodrich & Rosati; Wanda Woo – Wilson Sonsini Goodrich & Rosati; Billy Yiu – Wilson Sonsini Goodrich & Rosati;

Law Firms: Harneys; Latham & Watkins; Wilson Sonsini Goodrich & Rosati;

Clients: BOCOM International Securities Ltd; China Everbright Ltd; China Merchant Securities; CMB International Capital Limited; Crosby Securities Limited; Fulu Holdings; Futu Securities International;

Author: Michael Patrini