Source: Daily Journal
Pillsbury represented Vobile Group Ltd. in one of the first-ever Initial Public Offerings for a Silicon Valley company on the Hong Kong Stock Exchange. Vobile, which develops technology platforms designed to enhance video content and streaming, decided to list its shares on the Hong Kong Stock Exchange in part as a reflection of the importance of the Chinese market and Asian markets more generally, and for the growth and development of its business. Hong Kong is also expected to be its Asian regional headquarters.
The net proceeds from the global offering will be used for sales and marketing to expand Vobile’s global customer base and grow its marketing intelligence team. Infrastructure and facility upgrades are another possible use and so are strategic investments and acquisitions.
Stephen Wurzburg led the Pillsbury team, which included partners Thomas Chaffin and Stanton Wong, counsel Gurpreet Bal and associates Anna He and Omar Bailony. William Bonano, a senior partner in San Francisco, rounded out the team.