We advised the underwriters on the IPO and HKEX listing

Davis Polk advised the underwriters in Bairong Inc.’s initial public offering and listing on the Hong Kong Stock Exchange and the international offering in reliance on Rule 144A and Regulation S. The net proceeds from the offering amounted to approximately HK$3.76 billion (US$454.5 million) prior to the exercise of the over-allotment option.

Bairong Inc. is a leading independent AI-powered technology platform in China serving the financial services industry. According to Frost & Sullivan, it is the largest independent financial big data analytics solutions provider in China by revenue in 2019 (after taking into account revenue from precision marketing services). Bairong has developed an expertise analyzing consumers’ financial and behavior patterns and is able to derive critical data insights enabling financial services providers, or FSPs, to improve their service efficiency while enhance their risk management capabilities.

The Davis Polk corporate team included partners Li He and Yang Chu, counsel – registered foreign lawyer Ran Li, associates Lillian Lian and Vincent Ko and registered foreign lawyer Fei (Grace) Kong. Counsel Alon Gurfinkel and associate Summer Xia provided tax advice. Members of the Davis Polk team are based in the Hong Kong, Beijing and London offices.