Simpson Thacher represented the underwriters, AMTD, Loop Capital Markets, Tiger Brokers, Prime Number Capital and R. F. Lafferty & Co., Inc., in connection with the initial public offering and listing on the Nasdaq Global Market of BlueCity Holdings Limited (“BlueCity”). The offering comprised 5,300,000 American Depositary Shares (“ADSs”), representing 2,650,000 Class A ordinary shares, before exercise of the underwriters’ overallotment option. The base offering size was US$84.8 million.
BlueCity is a leading online LGBTQ platform, providing a full suite of services aimed at empowering the LGBTQ community in their daily lives. As a central hub of BlueCity’s services and platforms, the Blued mobile app allows users to connect with each other, express themselves, and access professional health related services and family planning consulting services at their fingertips. Blued had connected more than 49 million registered users as of March 31, 2020. BlueCity’s ADSs are traded on the Nasdaq Global Market under the symbol “BLCT.”
The Simpson Thacher team for the transaction included Chris Lin, Daniel Fertig, Yi Gao and Andrew Laub (Capital Markets); Jonathan Cantor and Abigail Hopper (Tax); and Jennie Getsin (FINRA).