Missfresh’s $273 Million Initial Public Offering

Davis Polk advised the representatives of the underwriters on the offering, and Maples advised Missfresh Limited on the deal.

Missfresh Limited completed its initial public offering of 21,000,000 American depositary shares. The aggregate offering size of the IPO is approximately $273 million. Missfresh Limited has granted the underwriters an option to purchase up to an aggregate of 3,150,000 additional ADSs. The ADSs are listed on the Nasdaq Global Select Market under the ticker symbol “MF.”

J.P. Morgan Securities LLC, Citigroup Global Markets Inc., China International Capital Corporation Hong Kong Securities Limited and China Renaissance Securities (Hong Kong) Limited acted as representatives of the underwriters for the offering.

Missfresh Limited is an innovator and leader in China’s neighborhood retail industry. Missfresh Limited operates an integrated online and offline on-demand retail business that offers fresh produce and fast-moving consumer goods.

The Davis Polk corporate team included partners Li He (Picture) and James C. Lin, counsel Kevin Zhang and associate Mendtuvshin (Mendee) Enkhtaivan. Counsel Alon Gurfinkel and associate Omer Harel provided tax advice. Counsel Marcie A. Goldstein provided FINRA advice.

The Maples team was led by partner Everton Robertson and associate Jessica Zhan. The Group’s Fund Services business acted as the Cayman Islands Share Registrar, and the team comprised Eastern Fong, Regional Head of the Group’s fund services business in Asia and vice president Christy Poon.

Involved fees earner: Mendtuvshin Enkhtaivan – Davis Polk & Wardwell; Marcie Goldstein – Davis Polk & Wardwell; Alon Gurfinkel – Davis Polk & Wardwell; Omer Harel – Davis Polk & Wardwell; Li He – Davis Polk & Wardwell; James Lin – Davis Polk & Wardwell; Kevin Zhang – Davis Polk & Wardwell; Eastern Fong – Maples and Calder; Christy Poon – Maples and Calder; Everton Robertson – Maples and Calder; Jessica Zhan – Maples and Calder;

Law Firms: Davis Polk & Wardwell; Maples and Calder;

Clients: China International Capital Corporation Hong Kong Securities Limited; China Renaissance Securities Limited; Citigroup Global Markets Ltd; J.P. Morgan Securities LLC; Missfresh Limited ;

Author: Sonia Carcano