We advised the international joint lead managers on the IPO and TSE listing

Davis Polk advised the international joint lead managers in connection with the initial public offering of 18,632,200 shares of common stock and Tokyo Stock Exchange listing of Appier Group, Inc. The shares were sold by Appier and multiple selling shareholders. An additional 984,700 shares were offered as part of the over-allotment. The global offering consisted of an offering in Japan and an international offering outside Japan pursuant to Rule 144A and Regulation S. The aggregate proceeds of the global offering were approximately ¥31.3 billion (approximately $289 million).

This IPO represents the first listing in Japan by a company from Taiwan since 1998.

Appier is a provider of SaaS solutions and AI technology for marketing applications based in Taipei. Appier’s technology incorporates AI and machine learning models to predict future user behaviors and to develop a view of user preferences.

The Davis Polk corporate team included partner Jon Gray, counsel Christopher Kodama and associates Chihiro Sasaki and Paul Jun. Counsel Alon Gurfinkel provided tax advice. Members of the Davis Polk team are based in the Tokyo and London offices.