On December 12th 2018, the world-leading mobile advertising platform Mobvista (stock code : 1860. HK) was successfully listed on the Main Board of the Hong Kong Stock Exchange (“HKEx”), issuing at the price of HK$4 per share, raising funds of HK$1.275 billion in total. Up until December 12th 2018, the controlling shareholder was a listed company(“Guangzhou Mobvista Network Technology Co., Ltd. ,stock code: 834299”) on National Equities and Exchange Quotations (“NEEQ”), it is the first successfully listing project on the HKEx through the “NEEQ+Redchip” structure.
Mobvista, is a world-leading technology platform providing mobile advertising and analysis services to worldwide mobile app developers, focused on using a mobile advertising platform and the mobile analysis platform Saas to assist developers in liquidation. Acquiring users and knowing the users, and the functions of the their apps. In the first half of 2018, Mobvista was in the global top 10, 2nd in Asia, 1st in China, and the largest third party advertising platform in the Top 50 China “overseas” apps.
The project ran for 9 months since inception, and JunHe acted as the PRC law counsel to the issuer, provided high-quality, rigorous and efficient legal services including the restructure, applying for the 97 Red Chip Guide approval from the Guangdong Provincial Government, NEEQ Share- to - company communication、due diligence on domestic entities、conducting PRC law opinion, preparing solutions, and responses to concerns from the HKEx and some PRC law issues related to the Hong Kong listing, providing professional opinions and advice on domestic approval and overseas investment compliance issues, and finally assisted Mobvista to be approved by the HKEx. The JunHe team’s working attitude and professional service was highly recognized by the client and other intermediaries.
Mobvista experienced building the Red Chip structure, dismantling the Red Chip structure, restructuring and listing on the NEEQ, A-share application、further restructuring and listing on the HKEx since 2014. The JunHe team, acted as corporate counsel for Mobvista, providing whole-set legal services and become one of the most reliable partners with Mobvista.
The leading partners were Mr. WANG, Yi and Mr. JIANG, Wenjun (Kelvin). Guangzhou office partner Mrs. HUANG, Xiaoli (Ally) provided professional support and guidance through the process of applying for the 97 Red Chip Guide approval from the Guangzhou Provincial Government.