30 March, 2018
Skadden represented Baidu-backed, China's largest video streaming service provider iQiyi in its US$2.25 billion initial public offering of American Depository Shares and listing on Nasdaq. This is the biggest U.S. IPO out of Asia in the first quarter of 2018. Trading of iQiyi will commence on 29 March 2018. Skadden also advised Baidu in its public offering of US$1.5 billion aggregate principal amount of its notes, which was announced on 22 March 2018.
Skadden also represented Bilibili Inc., a leading anime streaming and online entertainment content provider for young generations in China, in its US$483 million initial public offering of American Depository Shares and listing on Nasdaq; and OneSmart International Education Group Ltd., China's leading premium K-12 after school education, in its US$179 million initial public offering of American Depository Shares and listing on the New York Stock Exchange. Trading of both Bilibili and OneSmart Education commenced on 28 March 2018.
The Skadden team includes, advising iQiyi, partners Julie Gao and Will Cai, associates, Yilin Xu, Flora Lu, and international legal consultants Tianze Ma and Sonia Char; advising Bilibili, partners Julie Gao and Haiping Li, counsel Yuting Wu, associates Weiwei Chen and Guang Yang, international legal consultant Jian Wang and legal specialist Xiaoxi Gong; and advising OneSmart Education, partners Julie Gao, counsel Yuting Wu, associates Yuling Geng, Shifeng Ni, and international legal consultant Yiying Wang.
