King & Wood Mallesons (KWM) advised the joint sponsors, Guotai Junan Capital Limited and ABCI Capital Limited, and the underwriters on the global offering and listing of H Shares of SHENZHEN DOBOT CORP LTD (DOBOT, SEHK Stock Code: 02432) on the Main Board of The Stock Exchange of Hong Kong Limited (SEHK) under Chapter 18C of the Listing Rules.
Dobot's successful debut on 23 December 2024 became the first H share 18C specialist technology company, the first 18C commercial company at the time of the first listing application, and the first cobots company listed on SEHK. This global offering raised gross proceeds of approximately HK$752 million, and the market capitalization of Dobot reaches over HK$7.5 billion at the time of listing.
Dobot is one of leading companies that specializes in the development, manufacturing and commercialization of collaborative robots (“cobots”), and Dobot is a top 2 player in the global cobot industry and the No.1 player among all Chinese cobot companies.
This groundbreaking closing marks the first-ever 18C specialist technology company’s listing for KWM's Hong Kong office, strengthening the firm's track record in this area completed by the Hong Kong Equity Capital Markets team. This IPO represents the second robotics company IPO for Hong Kong and PRC Equity Capital Markets team. KWM PRC team acted as PRC counsel and data compliance special advisor, and KWM HK acted as Hong Kong special counsel to UBTECH ROBOTICS CORP LTD, assisting the first humanoid robot company to list in Hong Kong in December 2023 (Hong Kong Stock Exchange stock code: 9880).
KWM has extensive experience representing issuers and underwriters on Hong Kong listings for companies in the Telecommunications, Media, Entertainment and Technology (TMT) sector. This notable transaction showcases KWM's expertise in offering integrated legal solutions for Chinese Tech companies. The firm's ability to navigate intricate regulatory landscapes and provide accurate, timely advice underscores its position as a leading provider of legal solutions.
The Hong Kong office team was led by partner Anthony Wan, supported by Rocky Cheung, Derek Yu, Ryan Kwan and Keith Chan. Anthony’s team also participated in the above-mentioned IPO deal for UBTECH ROBOTICS (SEHK Stock Code: 9880) as their special counsel.
Any reference to "Hong Kong" or "Hong Kong SAR" shall be construed as a reference to "Hong Kong Special Administrative Region of the People's Republic of China".
