This is the first dual primary listing by way of introduction with WVR structure on the HKEX

Davis Polk advised the joint sponsors on Hong Kong and U.S. laws in connection with the dual primary listing of the Class A ordinary shares of KE Holdings Inc. (Beike) (NYSE: BEKE) by way of introduction on the Hong Kong Stock Exchange.

Beike is a leading integrated online and offline platform for housing transactions and services. It is a pioneer in building infrastructure and standards to reinvent how service providers and housing customers efficiently navigate and complete housing transactions in China, including existing and new home sales, home rentals, home renovation and furnishing and other services. In terms of gross transaction value in 2021, Beike is the largest housing transactions and services platform in China and a top three commerce platform across all industries globally.

The Davis Polk corporate team included partner Li He, counsel – registered foreign lawyer ­­Ran Li and associates Jennifer Ng and Jeffrey Lee. Partner Martin Rogers and counsel Yuan Zheng and Bo Huang provided regulatory advice. Counsel Alon Gurfinkel and associate Veronica Davis provided tax advice. Members of the Davis Polk team are based in the Hong Kong, Beijing and London offices.