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O’Melveny Represents Underwriters in IPO of Beijing Fourth Paradigm Technology

September 28, 2023


HONG KONG—SEPTEMBER 28, 2023— O’Melveny recently represented China International Capital Corporation Hong Kong Securities Limited (as the sole sponsor and an overall coordinator), CCB International Capital Limited, CMB International Capital Limited, China Merchants Securities Co., Limited (each as an overall coordinator and a joint global coordinator) and 18 other underwriters in the initial public offering and listing of shares of Beijing Fourth Paradigm Technology Co., Ltd. (6682.HK) on the Main Board of the Hong Kong Stock Exchange. Assuming that the over-allotment option is exercised in full, the offering size will be HK$1.18 billion (approximately US$150 million), making it one of the largest IPOs on the Hong Kong Stock Exchange in 2023.

Dr. Dai Wenyuan, founder and chairman of Fourth Paradigm, expressed his appreciation for O’Melveny, stating that, “We are grateful for the contributions from O’Melveny & Myers.  They provided significant support for Fourth Paradigm and the underwriters throughout the entire listing application process, leveraging their robust experience in Hong Kong capital markets.”  Mr. Yu Zhonghao, CFO and executive director of Fourth Paradigm, also commented, “O’Melveny provided practical and actionable advice which helped make this IPO successful. We would like to express our gratitude especially to Ke Zhu, Ke Geng, and Ye Sun for their steadfast support during our listing application process.”

Fourth Paradigm is a pioneer and leader in enterprise AI, offering platform-centric AI solutions that can be deployed by enterprises on a large scale to uncover hidden patterns in data and comprehensively enhance their decision making capabilities. It was the largest player in the platform-centric decision making AI market in China in terms of revenue in 2022. Fourth Paradigm has a market capitalization of over HK$28.80 billion (approximately US$3.30 billion) upon listing.

The O’Melveny team for this transaction was led by corporate partners Ke Zhu, Ke Geng, and Ye Sun. The core team members included counsel Qianyu Hu, associates Katherine Wang, Edward Poon, and Cherry Ma, senior legal assistant Ann Marie Choy, legal consultants Kaikai Liu, Iris Su, and Michelle Luo, as well as paralegal Aileen Xu. Partners Billy Abbott, Kurt Burney, Luc Moritz, Greta Nightingale, and Robert Plesnarski, counsel Dawn Lim and David Ribner, associate Amy Sung, legal consultants Minhui Chen, Daniel Tian, and Xingyan Zhou, as well as paralegals Cherika Chen and Shanon Shen also provided valuable support.

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Brandon Jacobsen
O’Melveny & Myers LLP
+1 213 430 8024

Chris Schob
O’Melveny & Myers LLP
+86 21 2307 7000

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