Pop Mart HK$5.2 billion IPO and Hong Kong listing
Davis Polk advised Pop Mart International Group Limited in connection with its initial public offering and listing on the Hong Kong Stock Exchange and an international offering in reliance on Rule 144A and Regulation S. The gross proceeds from the offering amounted to approximately HK$5.2 billion (US$674 million) prior to exercise of the over-allotment option.
Pop Mart is the largest and fastest-growing pop toy company in China, in terms of retail value in 2019 and revenue growth from 2017 to 2019, respectively. Pop Mart has established an integrated platform covering the entire industry chain of pop toys, including artist’s development, IP operation, consumer access and pop toy culture promotion.
The Davis Polk corporate team included partners Li He and Yang Chu, counsel – registered foreign lawyer Ran Li, counsel Kai Sun, associate Edwin Lee 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.