Latham & Watkins Advised On CaoCao’s HK$1.85 Billion IPO

Latham & Watkins Advised On CaoCao’s HK$1.85 Billion IPO

Latham & Watkins advised the joint sponsors and underwriters on CaoCao Inc.’s initial public offering (IPO) on the Hong Kong Stock Exchange. CaoCao is a leading ride-hailing platform in China, originally incubated by Geely Group, a prominent automobile manufacturer.

The IPO comprised 44.18 million shares, priced at HK$41.94 per share, with a total offering value of approximately HK$1.85 billion.

Huatai International, ABC International, and GF Securities acted as the joint sponsors, together with CICC serving as overall coordinators, joint global coordinators, joint bookrunners, and joint lead managers.

The Latham & Watkins team advising the sponsors and underwriters was led by Daying Zhang (Partner), Terris Tang (Partner), and Benjamin Su (Partner), with support from Chimmy Tao (Associate), Weigang Meng (Associate), Jovi Cheng (Associate), Lizzy Zhang (Associate), Xiang Ao (Foreign Legal Consultant), Ziyue Li (Foreign Legal Consultant), Manyu Tian (Foreign Legal Consultant), and Candy Mak (Senior Paralegal).

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