Skadden Advises Li Auto Inc. On Its US$1.52 Billion Global Offering And Dual Primary Listing In Hong Kong.

8 September 2021
 

Skadden advised Li Auto Inc. (Li Auto), an innovative new energy vehicle company in China, on its HK$11.8 billion (approximately US$1.52 billion) offering of Class A ordinary shares and dual-primary listing on the Hong Kong Stock Exchange, with a weighted voting rights structure. Li Auto's American Depositary Shares, representing ordinary shares, are listed and traded on the Nasdaq Global Select Market.

 

The Skadden team was led by partners Julie Gao (Hong Kong), Haiping Li (Shanghai) and Paloma Wang (Hong Kong), with counsel Kai Sun (Hong Kong), associates Peter Pang (Shanghai), Yangtian Li (Hong Kong), Tina Ye (Hong Kong), and Ken Ye (Hong Kong), international legal consultant Fang Yuan (Shanghai), staff attorney Marcus Ng (Hong Kong) and trainee solicitor Hillary Chan.

 

Ms. Gao and Ms. Li advised Li Auto on its US$1.48 billion Nasdaq IPO and concurrent private placements in July 2020, its US$1.57 billion follow-on offering in December 2020, as well as its US$862.5 million convertible notes offering in April 2021.