Skadden, Arps, Slate, Meagher & Flom and Zhong Lun Law Firm have advised Chinese music platform Cloud Village on its $421 million initial public offering on the Hong Kong Stock Exchange, with JunHe counselling the joint sponsors and underwriters.
Cloud Village is a music streaming business owned by China-based internet technology company NetEase, and the IPO is the company’s second attempt to list this year. It shelved its initial plan to raise $1 billion in August after Chinese regulators ordered a broad toughening of rules governing the country’s tech companies following Didi Global's listing in the United States, Reuters reported.
The Skadden team was led by partners Julie Gao and Paloma Wang.
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