Davis Polk and Fangda advise Kingsoft Cloud on its Nasdaq IPO since Luckin scandal

Davis Polk & Wardwell and Fangda Partners have advised Kingsoft Cloud on its $510 million IPO, with Kirkland & Ellis and Han Kun Law Offices advising the underwriters.

The debut of Kingsoft Cloud on the Nasdaq stock exchange marks the first Chinese listing going public in New York after a fraud scandal at Chinese coffee chain Luckin Coffee.

Kingsoft Cloud is a subsidiary of Kingsoft Corporation. The Beijing-based software company was founded in 1988 by Bojun Qiu and is backed up by Xiaomi. It offers cloud infrastructure, enterprise cloud and artificial intelligence services.

The Fangda team was led by partner Jeffery Ding.