Paul Hastings announced that the firm advised SoftBank Vision Fund, one of the largest investment funds in the world that focuses on the global technology industry, in its approximately US$550 million investment in the US$1.5 billion Hong Kong initial public offering of ZhongAn Online Property and Casualty Insurance (“ZhongAn Insurance”), China’s first internet-only insurer.

SoftBank Vision Fund bought a minority stake in ZhongAn Insurance, acting as a key cornerstone investor. The IPO is the largest ever by a financial technology company in Hong Kong.

The Paul Hastings team was led by partners David Wang, Jia Yan, Nan Li and Bonnie Yung; of counsel Bonnie Kong; with support from associates Stancy Qian, Liming Xu and Andy Tam.