Harneys advises Edianyun Limited on its Hong Kong IPO
Harneys acted as Cayman Islands counsel to Edianyun Limited, a Chinese IT service provider, on its Hong Kong initial public offering, with an offering size of HK$597 million (approximately US$76 million). Its shares were listed and commenced trading on 25 May 2023.
Founded in 2014, Edianyun is a major integrated office IT solutions provider in China, dedicated to providing the ultimate office IT services to small and medium-sized enterprises. Since its inception, Edianyun has been committed to delving into its core technology. Its remanufacturing plant has over a hundred patented monograph technologies, which have enhanced its profitability by extending the lifespan of equipment from an average of three years to an average of seven to ten years under its superior technological strength, and its business robustness is second to none in the industry.
The Harneys team was led by Shanghai Counsel Jessie Xu with support from Shanghai Partner Calamus Huang. Clifford Chance and Shihui Partners together advised Edianyun. Wilson Sonsini Goodrich & Rosati and CM Law Firm provided Hong Kong and US legal advice and PRC legal advice respectively to the sole sponsor and the underwriter.
Calamus commented: “We extend our congratulations to Edianyun on its successful IPO. With our significant track record in advising on overseas listings, as well as our deep understanding of Chinese clients, we are committed to delivering exceptional services to our clients.”
Jessie commented: “It was a privilege to be part of the journey with Edianyun and all the professional parties and we see this IPO only as a step in a longer journey ahead with Edianyun for its successful future.”
The Corporate team at Harneys advises on complex cross-border transactions involving the British Virgin Islands, Cayman Islands, Luxembourg, and Cyprus corporate vehicles. The team’s significant track record includes advising on high-profile private equity transactions, landmark IPOs, public and private M&A, and joint ventures. The firm’s expertise lies in advising entities listed or listing on all major stock exchanges, including the New York Stock Exchange, NASDAQ, the London Stock Exchange, AIM, the Hong Kong Stock Exchange, the Shanghai Stock Exchange, and the Luxembourg Stock Exchange.