Latham Advises on Geekplus’ HK$2.7 Billion IPO

Latham & Watkins has advised the underwriters on Geekplus Technology Co., Ltd.’s (Geekplus) initial public offering (IPO) on the Hong Kong Stock Exchange (SEHK). Geekplus is a leader in the global autonomous mobile robot (AMR) market, offering a series of AMR solutions to empower warehouse fulfillment and industrial material transport. The IPO consisted of 161.4 million H shares priced at HK$16.80, with a total value of approximately HK$2.7 billion.

The transaction represents the first-ever listing of an AMR company and is the first H-share company with a Weighted Voting Rights structure approved by the SEHK. 

Morgan Stanley and CICC acted as the joint sponsors, acting together with Deutsche Bank and CMBI as overall coordinators, joint global coordinators, joint bookrunners, and joint lead managers. 

The Latham team was led by Hong Kong corporate partners Daying Zhang and Terris Tang, with associates Chimmy Tao, Stewart Lai, and Marie Lim, Beijing associate Caroline Lin, and foreign legal consultants Yuxuan Chen and Kenneth Wang. Advice was also provided on regulatory matters by Washington, D.C. partner James Barker and counsel Catherine Hein; and on tax matters by Los Angeles partner Eric Cho and San Diego associate Ryan Brenner.