Netjoy Holdings Limited’s HK$1.396 Billion Initial Public Offering

Herbert Smith Freehills has advised Haitong International on the deal, while Harneys, DeHeng and Tian Yuan Hong Kong acted as legal counsels to Netjoy Holdings Limited.

Haitong International acted as the sole sponsor of online marketing solutions provider Netjoy Holdings Limited (HK: 2131)’s mainboard listing on the Stock Exchange of Hong Kong.
Netjoy delivers online marketing solutions through video and content in China, primarily through top online publishers, including Douyin, Huoshan, Xigua Video and Kuaishou.

The IPO raised over HK$1.396 billion (US$180 million), and listed on 17 December 2020.

Tom Chau (Picture), Isaac Chen and Stanley Xie led the team advising the sole sponsor, assisted by associates Weili Zhong,  Jasper Wang and Kathy Zhang, and paralegal Daina Wang in Beijing, associate Sean Ji and paralegal Jessica Sun from Herbert Smith Freehills Kewei, as well as senior associates Sherry Lai and Jin Kong, associate Jeffrey Lee, and trainee Sophia Li in Hong Kong. Lawyers Ying Song and Helen Liang, as well as senior legal analyst Yuanyuan Yin from Herbert Smith Freehills Kewei Joint Operation’s Alternative Legal Services business also provided support.

The Harneys team was led by co-global head of Corporate, Raymond Ng, with support from Associate Annie Liu and Legal Managers Denise Chan and Nicholas Fong. Harneys’ associated corporate and fiduciary services arm, Harneys Fiduciary, also provided registered office and principal share registrar services for Netjoy and Raily Aesthetic.

The DeHeng team was led by partners Ji Shujuan, Yin Tang and Feng Yaqun.

The Tian Yuan Hong Kong was led by the senior partner Nan Li and composed of the partner Charles Wang, the chamber barristers Stella Hu, Crystal Zhang and Isabelle Wu, the senior lawyer Jora Guo, the lawyers Gilbert Han, Harvey Lin, Sean Ge, Joseph Chen, Nicole Xu, Valarie Wei, Alan Wang, Hangyu Li and Junhao Fu.

Involved fees earner: Yaqun Feng – DeHeng Law Offices; Shujuan Ji – DeHeng Law Offices; Tang Yin – DeHeng Law Offices; Denise Chan – Harneys; Nicholas Fong – Harneys; Annie Liu – Harneys; Raymond Ng – Harneys; Tom Chau – Herbert Smith Freehills; Isaac Chen – Herbert Smith Freehills; Jin Kong – Herbert Smith Freehills; Sherry Lai – Herbert Smith Freehills; Jeffrey Lee – Herbert Smith Freehills; Jasper Wang – Herbert Smith Freehills; Stanley Xie – Herbert Smith Freehills; Kathy Zhang – Herbert Smith Freehills; Weili Zhong – Herbert Smith Freehills; Joseph Chen – Tian Yuan Law Firm; Junhao Fu – Tian Yuan Law Firm; Sean Ge – Tian Yuan Law Firm; Jora Guo – Tian Yuan Law Firm; Gilbert Han – Tian Yuan Law Firm; Nan Li – Tian Yuan Law Firm; Hangyu Li – Tian Yuan Law Firm; Harvey Lin – Tian Yuan Law Firm; Charles Wang – Tian Yuan Law Firm; Alan Wang – Tian Yuan Law Firm; Valarie Wei – Tian Yuan Law Firm; Nicole Xu – Tian Yuan Law Firm;

Law Firms: DeHeng Law Offices; Harneys; Herbert Smith Freehills; Tian Yuan Law Firm;

Clients: Haitong International Capital Limited; Netjoy Holdings Limited;