MOGU Inc. Initial Public Offering and NYSE Listing

Davis Polk advised the underwriters on the SEC-registered initial public offering by MOGU Inc. of 4,750,000 American Depositary Shares, each representing 25 Class A ordinary shares, for total net proceeds of $61.8 million. MOGU has granted the underwriters an option to purchase up to an additional 712,500 ADSs. The ADSs are listed on the NYSE under the symbol “MOGU.”

MOGU is a leading online fashion and lifestyle destination in China. It provides young people with a more accessible and enjoyable shopping experience for everyday fashion, particularly as they increasingly live their lives online. Through innovative use of content, MOGU’s platform provides a vibrant and dynamic community for people to discover and share the latest fashion trends with others, and offers users a truly comprehensive shopping experience.

The Davis Polk corporate team included partners James C. Lin and Li He and registered foreign lawyer Kevin Zhang. Counsel Alon Gurfinkel and associate Omer Harel provided tax advice. Counsel Marcie A. Goldstein provided FINRA advice. Members of the Davis Polk team are based in the Hong Kong, London and New York offices.