Simpson Thacher Represents Underwriters in the HK$1.5 Billion (US$192.8 Million) Hong Kong Initial Public Offering and Rule 144A/Regulation S Offering by Tian Ge Interactive Holdings Limited

The Firm represented the underwriters in the initial public offering in Hong Kong and Rule 144A/Regulation S offering by Tian Ge Interactive Holdings Limited (Tian Ge). Tian Ge offered an aggregate of 304,267,000 ordinary shares in the offering (before greenshoe) and raised gross proceeds of approximately HK$1.5 billion (US$192.8 million). Tian Ge is the largest live social video platform in China in terms of total user spending. Tian Ge offers diverse product portfolio and engaging content, including eight many-to-many live social video communities (two primary communities: 9158 Video Community and Sina Show) and one one-to-many community, Sina Showcase. Tian Ge also offers a diversified selection of virtual gifts and virtual items. Tian Ge has also entered the online games market through Duoduo Games and its release of Three Kingdoms. The ordinary shares of Tian Ge are listed on the Hong Kong Stock Exchange. UBS Securities Hong Kong Limited and China International Capital Corporation Hong Kong Securities Limited (CICC) acted as the joint sponsors. UBS AG, Hong Kong Branch (UBS) and CICC acted as joint global coordinators. UBS, CICC, Haitong International Securities Company Limited (Haitong International), Jefferies Hong Kong Limited, Pacific Crest Securities LLC and CMB International Capital Limited acted as joint bookrunners. UBS, CICC, Haitong International, Jefferies Hong Kong Limited and CMB International Capital Limited acted as joint lead managers.

The Simpson Thacher team for the transaction included Celia Lam, Leiming Chen, Yi Gao and Cora Lei (Corporate) and Jonathan Cantor and Joseph A. Tootle (Tax).

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