22 December, 2015
Yirendai Ltd., a leading online consumer finance marketplace in China, announced on December 18, 2015, that it has priced its initial public offering of 7,500,000 American depositary shares ("ADSs") at US$10 per ADS. Yirendai is a subsidiary of CreditEase, a large financial services company focusing on providing inclusive finance and wealth management products and services in China. Yirendai's ADSs began trading on the New York Stock Exchange on Friday under the ticker symbol "YRD."
Skadden is acting as U.S. legal counsel to Yirendai. The Skadden team includes partner Julie Gao, counsel Kenneth Chase, associates Shu Du and Jie Zhang, international legal project manager Sophie Zhao, and, for tax, partner Sean Shimamoto and associate Su Da.
