1 August, 2020
Skadden advised Li Auto Inc., (Li Auto) an innovator in China's new energy vehicle market, on its initial public offering of 95 million ADS on Nasdaq, as well as concurrent private placements, raising a total of approximately US$1.48 billion. Each ADS will represent two Class A ordinary shares of Li Auto, at a price to the public of US$11.50 per ADS. Li Auto has granted the underwriters an option, exercisable within 30 days from the date of the final prospectus, to purchase up to an aggregate of 14,250,000 additional ADSs. Li Auto's IPO is the largest one by a Chinese company in the US since 2018. Trading commenced on 30 July 2020.
The Skadden team was led by partners Julie Gao (Hong Kong) and Haiping Li (Shanghai), with Peter Pang, Associate (Shanghai), Frank Xu, Associate (Beijing), and Yangtian Li, Associate (Hong Kong).
