Hywin Holdings Ltd Launches Initial Public Offering on Nasdaq

Stevenson, Wong & Co. AllBright Law Offices, and Sidley Austin LLP advised Hywin Holdings Ltd in its initial public offering as legal advisers.

Hywin Holdings commenced trading on the Nasdaq Global Market in the US under the ticker symbol “HYW”. The Company issued 3 million American Depositary Shares at a price of $10 per ADS, raising $30 million in gross proceeds. The underwriters in the offering were Network 1 Financial Securities, Alexander Capital and Valuable Capital.

With a distribution team of over 1,700 relationship managers, the Company provides wealth management, insurance brokerage, asset management and other services in 84 cities across China. In terms of market share, it is the third largest third-party wealth management service provider in China in 2019.

The Stevenson, Wong & Co. legal team comprised of Hank Lo (Partner), Gordon Tsang (Senior Associate), Bun Chan (Associate), Alice Ma (Registered Foreign Lawyer) and Arthur Hung (Paralegal).

The AllBright legal team was led by Steve Zhu (Senior Partner) and included Frank Xu (Senior Partner), Joy Huang (Partner) and Associates Ken Lin and Elain Yu.