Simpson Thacher Represents Underwriters in HK$6.279 Billion Hong Kong IPO and Rule 144A/Regulation S Offering of Leapmotor
09.29.22
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Simpson Thacher represented the underwriters in the initial public offering and Rule 144A and Regulation S offering by Zhejiang Leapmotor Technology Co., Ltd. (“Leapmotor”) (HKEX: 9863). Leapmotor offered 130,819,100 H shares in its global offering prior to the exercise of the underwriters’ overallotment option. The base offering size is HK$6.279 billion (approximately US$805 million). The H shares of Leapmotor are listed on the Main Board of the Hong Kong Stock Exchange. J.P. Morgan, CICC, Citi and CCB International acted as joint sponsors, overall coordinators, joint global coordinators, joint bookrunners and joint lead managers.
Leapmotor is a smart EV company based in China primarily focusing on the mid- to high-end segment of China’s NEV market. Founded in 2015, Leapmotor is the only pure-play EV company based in China, and one of the few NEV companies in the China market (including domestic and international automakers that sell NEVs in China) with a full-suite of R&D capabilities.
The Simpson Thacher team for the transaction included Christopher Wong, Yi Gao, Marjory Ding, Emily Yiu, June Hu and Karen Shih (Capital Markets).