We advised Xunce on its IPO and HKEX listing

Davis Polk advised Shenzhen Xunce Technology Co., Ltd. in connection with its initial public offering and listing of H shares on the Hong Kong Stock Exchange. The gross proceeds from the offering amounted to approximately HK$1.08 billion before any exercise of the over-allotment option. The offering was conducted in reliance on Regulation S.

Xunce is a real-time data infrastructure and analytics solutions provider in China. It offers real-time information technology solutions encompassing both data infrastructure and data analytics to industrywide enterprises. The company ranked first in terms of revenue in 2024 in the real-time data infrastructure and analytics market for China’s asset management industry with a market share of 11.6%.

The Davis Polk corporate team included partners Li He, Jason Xu and Ran Li, counsel Wendy Kan and associate Haiyang Zhao. Counsel Alon Gurfinkel and associates Kelli A. Rivers and Valentin Van de Walle provided tax advice. Members of the Davis Polk team are based in the Hong Kong, Beijing, New York and London offices.

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