Davis Polk advised the underwriters led by Deutsche Bank AG, Hong Kong Branch and Citigroup Global Markets Asia Limited as joint sponsors and joint global coordinators for the initial public offering and listing on the Hong Kong Stock Exchange and an international offering in reliance on Rule 144A and Regulation S of BAIOO Family Interactive Limited (BAIOO). The gross proceeds from the global offering amounted to approximately HK$1.5 billion (US$195.8 million) without the exercise of the over-allotment option.  

Headquartered in Guangzhou, BAIOO is China’s largest online entertainment destination designed for children as measured by revenue in 2013 and the number one children’s web game developer in China in 2013, with over 40% market share in terms of children’s web game spending.   

The Davis Polk corporate team included partners Bonnie Y. Chan and James C. Lin, associates Lillian Lian and Wilson Chan and registered foreign lawyers Bingqing Pan and Michael Yu. Partner John D. Paton, counsel Alon Gurfinkel and associate Rhiannon Nakano provided tax advice. Members of the Davis Polk team are based in the Hong Kong, Beijing, London and New York offices.