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Latham Advises Fulu Holdings on Hong Kong IPO

September 18, 2020
Transaction represents China’s largest third-party virtual service provider’s Hong Kong listing.

Latham & Watkins represented Fulu Holdings (Fulu) based in Wuhan, China, on its US$132 million global offering and initial public offering on the Main Board of The Stock Exchange of Hong Kong Limited (SEHK).

Fulu is the largest third-party virtual goods and service provider in China by revenue in 2019. Fulu intends to use the proceeds from the offering to strengthen its capital base to support the sustainable growth of the business.

Allen Wang, a partner in the firm’s Hong Kong office who co-led the team, commented: “We are delighted to advise Fulu on its debut in Hong Kong’s stock market, which will help to unlock and power Fulu’s continued growth in the Asia Pacific region and globally. Fulu’s successful listing on the Hong Kong Stock Exchange demonstrates our firm’s top-notch capital markets track record, and further underlines the firm’s deep understanding of the technology, media, and telecom (TMT) and fintech sectors, and their ever-changing regulatory landscape."

The Latham team 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.