Latham Advises on CaoCao’s HK$1.85 Billion IPO

Latham & Watkins has advised the joint sponsors and underwriters on CaoCao Inc.’s initial public offering (IPO) on the Hong Kong Stock Exchange. CaoCao is a ride-hailing platform in China, originally incubated by Geely Group, a leading automobile manufacturer. 
The IPO consisted of 44.18 million shares priced at HK$41.94, with a total value of HK$1.85 billion.

Huatai International, ABC International, and GF Securities acted as the joint sponsors, acting together with CICC as overall coordinators, joint global coordinators, joint bookrunners, and joint lead managers.

The Latham team was led by Hong Kong corporate partners Daying Zhang, Terris Tang, and Benjamin Su, with associates Chimmy Tao, Weigang Meng, Jovi Cheng, and Lizzy Zhang, foreign legal consultants Xiang Ao, Ziyue Li, and Manyu Tian, and senior paralegal Candy Mak.