Kirkland & Ellis advised Joy Spreader Group Inc. (HKSE: 6988), a leading China-based marketing technology company, on the raising of approximately $77.5 million by way of top-up placing of 192 million existing shares and issue of the same amount of shares under general mandate. The placing was announced on June 7, 2022. Goldman Sachs was the sole placing agent.
Joy Spreader Group is one of the largest new media commercialization technology companies in China. The company focuses on the use of data and algorithm to help its customers promote and sell their products on new media platforms. The net proceeds from the share placing will be used to support the rapid development of the company’s overseas e-commerce business, to expand the scale and consolidate its market position.