Harneys advises TI Cloud on Hong Kong IPO
Harneys acted as Cayman Islands counsel to TI Cloud Inc., a Chinese provider of cloud-native customer contact solutions, in its HK$602.9 million (US$76.8 million) Hong Kong initial public offering (IPO). Its shares were listed and traded on 30 June 2022.
A leading Chinese intelligent data company, TI Cloud, turned to Harneys Shanghai team, led by Corporate Counsel Jessie Xu, for Cayman Islands advice, working with CYL & Partners in Association with Cooley HK and Commerce & Finance Law in their HK IPO.
Paul Hastings and CM Law Firm provided Hong Kong and PRC legal advice to sole sponsor CICC and the underwriters.
Jessie commented: “We are pleased to have advised TI Cloud on its Hong Kong IPO and we offer our congratulations on its successful listing.”
Partners Calamus Huang (Shanghai) and Raymond Ng (Hong Kong) supported the deal, and Calamus added: “Hong Kong is changing to make itself a more attractive IPO venue to new technology companies and beyond and we are optimistic that more and more companies may choose Hong Kong in the future. With our established track record, we are well placed to advise clients on their IPO endeavours.”
The Corporate team at Harneys has a leading Equity Capital Markets (ECM) practice with substantial experience in all aspects of capital raising by offshore companies, including IPOs and secondary offerings, rights issues, equity linked securities, including convertible and exchangeable bonds, SPACs and business combinations, as well as private placements, take-privates, takeovers and spin-offs. The firm’s ECM 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.