Add a bookmark to get started

8 March 20242 minute read

DLA Piper advises Lucas GC Limited on Initial Public Offering on Nasdaq

Global law firm DLA Piper has represented Lucas GC Limited (Lucas) in its initial public offering and listing on Nasdaq. Lucas is the largest technology-driven online agency-centric human capital management service provider in China based on PaaS (Platform as a Service). It offered 1,500,000 ordinary shares at a public offering price of USD4 per share for total gross proceeds of USD6 million, before deducting underwriting discounts and offering expenses. The company commenced trading on 5 March. Joseph Gunnar & Co is acting as the sole book-running manager for the offering.

Lucas is powered by AI, data analytics, and blockchain technologies, and is committed to digitalizing the entire human capital management process. It supports professionals in the HR industry providing its customers with recruitment, outsourcing, information technology and training services. The company’s proprietary platform-as-a-service (PaaS) is built on patented, novel, and advanced AI and machine-learning algorithms, which have unparalleled access to big data assets that can derive actionable insights and knowledge. The transaction was led by Yang Ge, Beijing-based US securities partner, with support from Corporate consultants Olivia Lai, Vera Chen and Yanzi Shen.

Commenting on the transaction Yang said: “This IPO highlights DLA Piper’s capabilities in the technology sector, and particularly in AI. The digital and technological transformation accelerated by AI has pervaded many industries, and we are excited to have advised one of the most cutting-edge companies on its evolving journey.”