Skadden Advises Weibo Corporation On Its US$385 Million Secondary Listing In Hong Kong.

22 December 2021

 

Skadden advised Weibo Corporation, a leading Twitter-like social media platform in China, on its offering of Class A ordinary shares and secondary listing on the Main Board under Chapter 19C of the Hong Kong Listing Rules. The offering involved 11,000,000 shares from the Company and a selling shareholder at HK$272.80 per share, for a total offering size of HK$3 billion (approximately US$385 million), exclusive of over-allotment options. Trading commenced on December 8.

 

The Skadden team was led by partners Julie Gao (Hong Kong), Paloma Wang (Hong Kong) and Yuting Wu (Shanghai), with counsel Kai Sun (Hong Kong), associates Tracy Lee (Hong Kong) and Xiaoxi Gong (Shanghai), international legal project manager Lei Zhang (Hong Kong), and trainee solicitor Jonathan Lu (Hong Kong).

 

Skadden has also advised Weibo on its various notes offerings, with an aggregate value of over US$2 billion.

 

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