Founded in 2013, Mobvista is a global mobile advertising and analytics services platform, which helps app developers to launch advertising campaigns to better acquire users and sell their ad inventory by connecting them to advertisers. The company has since then quickly grown to become the only Chinese company among the world's top ten third-party mobile advertising platforms. As a key player in a mobile ad industry, Google, Facebook and Mobvista are the three most popular advertising networks with Chinese app companies targeting the global market. According to China-based iResearch, Mobvista is the largest third-party advertising platform in terms of providing user acquisition services during the five months ended June 30 2018, to the top 50 PRC apps by the number of overseas downloads in 2017.
Mobvista is listed on the Main Board of The Hong Kong Stock Exchange on 12 December 2018. The offering comprises a total of 318.87 million shares, in a mix of 31.89 million Hong Kong offer shares and 286.98 million international offer shares, priced at HK$4.00 per share. The company expects to spend the proceeds to enhance strengths in big data, AI technologies and IT infrastructure, improve mobile advertising and analytics platforms, make additional strategic investments and acquisitions, enhance its local service capabilities and expand its global footprint.
Lead partner Frank Bi comments:
"We are delighted and honoured to advise on this IPO. As the first company with NEEQ listed parent at the top, the deal structure was designed innovatively for NEEQ listed company to float overseas. It will also become an equity market model for mobile advertising and analytics services companies."
The Ashurst team was led by corporate partners Frank Bi and Stuart Rubin, supported by Li Jiang, Albert Li, Maggie Lai and Lisette Chan.
