Morrison Foerster advised Flowing Cloud Technology Ltd., in relation to its proposed HK$782 million (subject to over-allotment option) initial public offering on the Hong Kong Stock Exchange. Flowing Cloud Technology is the biggest player in China's augmented reality (AR)/virtual reality (VR) content and services industry. It is the first metaverse-related stock listed in Hong Kong. The joint global coordinators are Shenwan Hongyuan Capital (H.K.) Limited, CLSA Limited, CMB International Capital Limited, and DBS Asia Capital Limited.
Dealing in Flowing Cloud's shares on the Main Board of the Hong Kong Stock Exchange is expected to commence at 9:00 a.m. on Tuesday, October 18, 2022.
Flowing Cloud is a leading supplier of the metaverse scenario application tier in China. Armed with technologies like AR/VR development engines, AI algorithms, and platform technologies, Flowing Cloud helps clients build metaverse scenario applications and ecosystems.
The MoFo team was led by partners Ke Huang and Vivian Yiu. Key members included Hong Kong associates Diana Tan, Ellie Xu, Tracy Ho, and paralegal Jacky Lam.