Dentons advises 51 Credit Card Inc. on HKEx Main Board listing

On July 13, 2018, 51 Credit Card Inc. (the “Company”, stock code: 2051) was successfully listed on the Main Board of the Hong Kong Stock Exchange.

The Company globally issued 118,703,000 shares (10,402,500 Hong Kong offer shares, and 108,300,500 international placing shares) at HK$8.50 per share. The Company intends to use the proceeds to develop and get customers, strengthen technological competitiveness, and for selected investment projects and corporate operation purposes.

A Dentons Beijing-based team, consisting of senior partner Bruce Li, partners Joanna Liu and Xiaoli Wang, and associates Ivy Ding, Stephanie Luo, Peng Zhang, Peizhe Sun and Yao Xiao, acted as the Chinese legal counsel of the issuer and provided comprehensive and efficient Chinese-English legal advice for the client. Their service won high praises from the client.

The legal service team mainly assisted the client in formulating and executing the listing plan, legal due diligence, preparing legal opinions under Chinese law, drafting, reviewing and revising various legal instruments, drafting and reviewing certain chapters of the prospectus, and responding to the questions from the Securities and Futures Commission of Hong Kong and the Hong Kong Stock Exchange.

Registered in the Cayman Islands, 51 Credit Card Inc. provides one-stop personal financial services, from personal credit management, credit card technology, online peer-to-peer lending, to investment. It operates a number of apps, including 51 Credit Card Manager, 51 RenPin, 51 RenPin Credit, and GeiNiHua.

As of December 2017, the Company reports 81 million registered users across its apps, accumulating a large number of active users with high value and excellent credit. The 51 Credit Card Manager app has 7 million monthly active users, making it the largest online credit card management platform. In 2017, the Company reported an adjusted net income of approximately RMB743.8 million. Based on the large amount of credit data generated by the credit card management platform, combined with the comprehensive credit analysis system independently developed by the Company, lenders lent approximately RMB33.9 billion to borrowers through this platform in 2017, making 51 Credit Card the largest P2P lending platform for credit card holders and a unicorn in the field of FinTech. After its successful listing, the Company has not only enhanced its market competitiveness, but also improved its market influence, enabling it to better position itself in the financial technology industry and oversea markets.