Cases & Deals

MOBI Development completes IPO of HK$593 million of Ordinary Shares on Main Board of the Stock Exchange of Hong Kong Limited

Clients MOBI Development Co., Ltd.

Jones Day advised MOBI Development Co., Ltd., a Shenzhen based mobile communication infrastructure equipment manufacturer and one of the few one-stop provider of wireless communication antennas and base station radio frequency, or RF, subsystems in China, in connection with its issuance of HK$593 million (US$76 million) of Ordinary Shares in an initial public offering on the Main Board of The Stock Exchange of Hong Kong Limited, underwritten by China Merchants Securities (HK) Co., Limited, CIMB Securities (HK) Limited, First Shanghai Capital Limited, First Shanghai Securities Limited, Piper Jaffray Asia Limited, Piper Jaffray Asia Securities Limited, Taifook Securities Company Limited, and TSC Capital Limited.

MOBI Development offered a total of 175,515,000 shares, approximately 25% of the total issued share capital of the company upon the global offering's completion, at HK$3.38 per share. The Hong Kong public offering recorded approximately 217 times subscription.