We advised Beisen on its IPO and HKEX listing

Davis Polk advised Beisen Holding Limited (HKEX: 9669) in connection with its initial public offering and listing on the Hong Kong Stock Exchange and an international offering in reliance on Rule 144A / Regulation S. The gross proceeds from the offering were approximately HK$155 million prior to the exercise of the over-allotment option.

Beisen is a leading provider of cloud-based human capital management (HCM) solutions in China. Beisen had a market share of 11.6% among approximately 300 market players in China’s cloud-based HCM solutions market in 2021, which is larger than the second and third players combined. Beisen has built a leading iTalentX platform to offer a full suite of cloud-based applications covering organizations’ HCM needs throughout the entire employee lifecycle.

The Davis Polk corporate team included partners Li He, Yang Chu, Jason Xu and Ran Li, associates Jennifer Ng and Yi Kai Sit and registered foreign lawyers Pengyao (Raymond) Lai and Yin Wu. Counsel Alon Gurfinkel and associate Ya Sheng Lin provided tax advice. Members of the Davis Polk team are based in the Hong Kong, Beijing and London offices.

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