On July 9, 2024, Baiwang Co., Ltd. (Baiwang Cloud) successfully listed on the Main Board of the Stock Exchange of Hong Kong (SEHK), raising gross proceeds of approximately HK$333.4 million (US$42.7 million) from its IPO (or approximately HK$383.4 million (US$49.1 million) if the underwriters exercise the over-allotment option in full), with market capitalization of over US$1.0 billion. Wilson Sonsini Goodrich & Rosati acted as Baiwang Cloud’s U.S. and Hong Kong counsel in the IPO and SEHK listing.

As an enterprise digitalization solutions provider in China, Baiwang Cloud focuses on offering SaaS financial & digitalization and data-driven analytics services through its Baiwang Cloud platform. Baiwang Cloud empowers the financial and tax-related transaction digitalization for a large and growing base of enterprise customers across different industries.

The Wilson Sonsini’s core team that represented Baiwang Cloud in the IPO and SEHK listing includes:

Corporate
Dan Ouyang
Can Yin
Ke Li
Erwin Qin
Meichen Liu
Yan Liang
Xubin Hong