Herbert Smith Freehills has advised Newborn Town Inc. on the deal.
Mico operates a social networking platform, with social networking app MICO and live streaming app Kitty Live as its primary revenue generators – both of which have market-leading positions in the Middle East, Southeast Asia and North America.
This acquisition marks Newborn Town’s expansion into overseas social networking markets since listing on the Hong Kong Stock Exchange in December 2019 – a transaction on which the firm also advised.
Upon completion, Newborn Town will hold an approximately 25.62% stake in Mico and provide a convertible loan to Mico.
Partners Tom Chau (Picture) and Isaac Chen led the team, assisted by associates Weili Zhong, Kathy Zhang and paralegal Daina Wang in Beijing.
Law Firms: Herbert Smith Freehills;
Clients: Newborn Town;