Menu

Fangdd – $78 Million IPO

First completed IPO out of Cooley’s newly launched Hong Kong office

Hong Kong – November 6, 2019 – Cooley advised Fangdd on its $78 million initial public offering of 6,000,000 American depositary shares, each representing 25 class A ordinary shares. The underwriters have a 30-day option to purchase up to 900,000 additional shares. The transaction represents Cooley’s first completed IPO out of its newly launched Hong Kong office. Partner Will Cai led the Cooley team advising Fangdd. 

Morgan Stanley, UBS Securities, China International Capital and AMTD Global Markets acted as joint book-running managers. 

Founded in 2011 by former real estate agents Yi Duan and Xi Zeng, Fangdd now trades its securities on the Nasdaq Global Select Market under the symbol “DUO.” The pioneer of China’s property technology industry, the company’s platform revolutionizes the traditional real estate transaction experience, providing a one-stop destination in an industry expected to reach a total market size of $4.7 trillion by 2023. 

About Cooley LLP

Clients partner with Cooley on transformative deals, complex IP and regulatory matters, and high-stakes litigation, where innovation meets the law. 

Cooley has 1,000+ lawyers across 15 offices in the United States, Asia and Europe.

 
Related Contacts
Will Cai  Partner Hong Kong, Palo Alto
Lisa Yuan  Special Counsel Beijing
Jie Zhang  Counsel Hong Kong
Alexander Lee  Partner Los Angeles
Aaron Pomeroy  Partner Colorado
Patrick Sharma  Associate Los Angeles
Francis Wheeler  Partner Colorado
Charlie Kim  Partner San Diego, Los Angeles
Henry Yin  Partner Hong Kong, Beijing
Darren DeStefano  Partner Reston
Josh Kaufman  Partner New York
Michael Yu  Partner Hong Kong
Kaiting Yang  Associate Hong Kong
Ying Liu  Associate Hong Kong