ABL Advise Shengtong Voicecomm on its listing on HKSE
2024-07-109056Shanghai Shengtong Voicecomm Information Technology Co., Ltd. ("Shengtong Voicecomm", Stock Code: 2495.HK) was listed on the main board of Hong Kong Stock Exchange on July 10, 2024, in which 4.36 million stocks had been issued at the price of HKD152.1 per share and raised approximately HKD 664 million. AllBright team acts as the PRC legal counsel to the China International Capital Corporation Hong Kong Securities Limited (“CICC”), the Sole Sponsor and the Sole Overall Coordinator and 20 other underwriters.
Shengtong Voicecomm, founded in 2005, provides services for enterprise-level users to improve the level of convenience and intelligence for their information exchanges and business interactions. According to the iResearch Report, Shengtong Voicecomm ranks the second in the full-stack enterprise-level conversational AI solution market in China as measured by revenue in 2023, representing a market share of 3.8%. According to the same source and by the same measure, Shengtong Voicecomm ranks the sixth in the enterprise-level conversational AI solution market in China, representing a market share of 1.3%, and have a market share of 1.2% in the entire conversational AI solution market in China that reached RMB67.8 billion in 2023.
The AllBright legal team, led by senior partner Jonas Xu, senior partner Frank Xu, senior partner Lauren Qin, senior partner Joy Huang, partner Xia Zhang, associate Ken Lin, associate Ryan Chang associate Elaine Yu and paralegal Cecilia Wang, served as the legal counsels to the underwriter on its listing and advised on PRC legal matters.
