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. 

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Related Contacts
Will Cai Partner, Hong Kong
Lisa Yuan Special Counsel, Beijing
Jie Zhang Associate, Hong Kong
Wentao Yuan Associate, Shanghai
Yiyi Deng International Legal Project Manager, Hong Kong
Zihao Zhou International Legal Project Manager, Beijing
Alexander Lee Partner, Los Angeles
Aaron Pomeroy Partner, Colorado
Patrick Sharma Associate, Los Angeles
Francis Wheeler Partner, Colorado
Charlie Kim Partner, San Diego
Henry Yin Partner, Beijing
Darren DeStefano Partner, Reston
Josh Kaufman Partner, New York
Michael Yu Partner, Hong Kong
Kaiting Yang Associate, Hong Kong
Ying Liu International Legal Project Manager, Hong Kong