Qingci in HK$1.02 Billion IPO
January 12, 2022
January 12, 2022
Cleary Gottlieb represented Qingci Games Inc. (Qingci) in its approximately HK$1.02 billion (including over-allotment option) initial public offering and listing in Hong Kong.
CICC and CLSA acted as joint sponsors; CICC, CLSA, and China Merchants Securities acted as joint global coordinators, joint bookrunners, and joint lead managers; and ABCI Securities, Guotai Junan Securities, TFI Securities, and Futures and Valuable Capital acted as joint bookrunners and joint lead managers.
The offering priced on December 9, 2021, and closed on December 16, 2021. The shares began trading on the Main Board of The Stock Exchange of Hong Kong Limited on December 16, 2021. The over-allotment option was partially exercised on January 7, 2022, and closed on January 12, 2022.
Qingci is an established mobile game developer and publisher in China, offering mobile games that are designed to provide captivating content as well as distinctive and engaging gameplay experiences to players in mainland China and overseas. As a leader in casual games, especially idle games, and rogue-like RPGs in China, Qingci has developed, published, and operated a number of games particularly popular among the young generation.