Deloitte China assists listing of Baiwang on SEHK

Deloitte China supported the listing of Baiwang Co., Ltd. (Baiwang, stock ticker: 06657.HK) on the Stock Exchange of Hong Kong (SEHK) on 9 July 2024. This is the 1st financial and tax software as a service (SaaS) listing served by Deloitte in Hong Kong.

Baiwang offered about 9.26 million shares at HKD36.00 each, raising around HKD333.43 million.

Baiwang's listing ceremony in Hong Kong Stock Exchange

(From left) Ryan Chieng, Deloitte China’s A&A partner; Ernest Lee, Technical partner, and a member of the Listing Committee of the Stock Exchange of Hong Kong; Chen Jie, Chairlady of the Board of Directors and General Manager of Baiwang; and Lily Wang, Deloitte China’s A&A senior manager attend the listing ceremony of Baiwang

Client overview

Baiwang is an enterprise digitalisation solutions provider in China, focusing on offering SaaS financial and tax digitalisation and data-driven analytics services to some of the largest commercial banks, insurance companies, and other industry-leading corporate conglomerates and mid-market customers in China through the Baiwang Cloud platform, which is a technology-integrated business platform encompassing digital certificate, digital signature, open fixed-layout document (OFD), big data analytics, AI, and blockchain.

Source: The Baiwang IPO prospectus published on 28 June 2024

Deloitte’s role

Deloitte China served Baiwang throughout its IPO journey with a high-quality philosophy of diligence and excellence. After the IPO engagement began, we promptly established a multi-disciplinary engagement team with vast service experience in the capital market and outstanding service capability. Our engagement team was dedicated to delivering the highest quality of professional services to help Baiwang expedite its listing filing work smoothly at every stage of the IPO. Through cooperation and collaboration with all the involved intermediaries, Baiwang became listed on the Hong Kong capital market.

Deloitte China congratulates Baiwang on its successful listing on SEHK. We will continue to provide high quality professional services and outstanding resources integration to assist more clients to take one-step ahead in today's increasingly competitive and complex business environment.