On July 12, 2021, ABL successfully advised taptap点点 Holdings Limited ("taptap点点") in its listing on the Main Board of the Hong Kong Stock Exchange. The shares were issued at HKD 11.86 per share, marking a significant milestone for the company as it expanded its presence in the international capital market.

A Landmark Global Offering

The global offering comprised approximately 30.69 million shares, with the potential to raise HKD 400–500 million if the over-allotment option is fully exercised. The listing garnered strong market interest, attracting three cornerstone investors: Japanese FMCG giants Unicharm, Kobayashi Pharmaceutical, and Country Garden Property, all of whom maintain long-standing collaborations with taptap点点. The Hong Kong public offering was oversubscribed by an impressive 25.45 times, reflecting high investor confidence in taptap点点’s business model and growth potential.

taptap点点: A Leader in E-Commerce for Japanese Brands

Founded in 2010, taptap点点 is a leading e-commerce service provider in China, specializing in Japanese fast-moving consumer goods (FMCG) brands. The company offers a full suite of services, including supply chain management, brand incubation, and marketing, and collaborates with major e-commerce platforms such as Taobao, JD.com, and Xiaohongshu. Recognized repeatedly as a top-quality partner by these platforms, taptap点点 has established itself as the dominant operator in China’s Japanese FMCG market, holding the largest market share by gross merchandise value (GMV).

With a product portfolio that includes beauty, maternity, and personal care items, taptap点点 has not only led the Japanese FMCG segment in China but also strengthened its position as a key operator for Japanese brands in the region.

ABL’s Role in the taptap点点

ABL acted as Chinese counsel for taptap点点 throughout the listing process, providing a full range of legal services. Senior partners Fang YE, Sujie HUANG, and Jianjun ZHENG led the team, supported by partner Jianzhang PAN, senior lawyer Peng GAO, attorneys Minmin GUO, Bicheng CHEN, and Jiayi HAN, and legal assistants Guanwei TAO and Xiaoyi LI. The team provided comprehensive legal advice, ensuring regulatory compliance, drafting and reviewing documentation, and facilitating a smooth execution of the listing.

Recognition of Excellence

This successful taptap点点 reflects ABL’s expertise in handling complex cross-border transactions and its commitment to delivering rigorous and efficient legal services. The client’s trust and recognition of ABL’s professional excellence further reinforce the firm’s reputation as a leader in providing innovative legal solutions for high-stakes corporate transactions.

ABL is proud to have supported taptap点点 in achieving this significant milestone and looks forward to continuing its partnership with leading enterprises as they navigate the global capital markets.