Press Release

Fenbi – HK$198 Million IPO

January 9, 2023

Hong Kong – January 9, 2023 – Cooley advised the underwriters for Fenbi, an internet-born test preparation company, on its proposed listing of shares on the Main Board of the Stock Exchange of Hong Kong Limited. Partners Ethan Jin, Michael Yu and Will Cai led the Cooley team.

Citigroup Global Markets Asia Limited, China International Capital Corporation Hong Kong Securities Limited and Merrill Lynch (Asia Pacific) Limited are the joint sponsors and joint overall coordinators. Citigroup Global Markets Asia Limited, China International Capital Corporation Hong Kong Securities Limited, Merrill Lynch (Asia Pacific) Limited and Haitong International Securities Group Limited are joint global coordinators.

Fenbi delivers courses in live and pre-recorded formats through its online platform and enables students to access interactive live-streaming programs. In addition, Fenbi supplements its course offerings with online self-learning materials and toolkits, such as mock examinations, question banks and a photo-based question search engine for answers to examination questions.

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