Hong Kong – Global law firm Hogan Lovells acted as U.S. securities advisor to underwriters CMB International Capital Limited and The Benchmark Company, LLC in the initial public offering (IPO) of DDC Enterprise Ltd (“DayDayCook”) on the NYSE American. The shares began trading on NYSE American on November 17, 2023 under the symbol “DDC.”
DayDayCook was founded in 2012 and was initially an online platform for publishing short cooking videos and recipes. Later, the company started providing advertising services to brands. Today, DayDayCook has evolved into a food innovator with leading content-driven (i.e. using content to reach and retain target customers) consumer brands offering simple, convenient reheat, ready-to-cook, ready-to-eat and plant-based meals. based meal while promoting healthier lifestyles among its predominantly Millennial and Generation Z customer base.
Total gross proceeds to DayDayCook from the IPO, before deducting underwriting discounts, commissions and other offering expenses, were $33.15 million. DayDayCook expects to use the net proceeds from the sale of the shares for working capital, to expand business, including through acquisitions, and to repay loans.
DayDayCook has successfully received notification from the China Securities Regulatory Commission for its US IPO, which is among the top companies that recently went public in the United States and filed with the China Securities Regulatory Commission Filing of issues and stock exchange listings received abroad.
Stephanie Tang, Head of Private Equity in Greater China, led the Hogan Lovells team on this transaction.
Comments are closed.