16 June, 2020
Skadden advised Shanghai-based Dada Nexus, a leading on-demand retail and delivery platform in China, on its initial public offering of 20 million ADS on the Nasdaq. Each ADS, representing 4 ordinary shares of the Company, is valued at US$ 16, for total gross proceeds of US$ 320 million. Dada Nexus has granted the underwriters an option, exercisable within 30 days from the date of the final prospectus, to purchase up to an aggregate of three million additional ADSs. Trading commenced on 5 June 2020.
The Skadden team was led by partner Julie Gao (Hong Kong), with Yuting Wu, Counsel (Shanghai), Weiwei Chen, Associate (Hong Kong), Xueyin Zhong, Associate (Beijing), Luwei Wang, International Legal Project Manager (Shanghai) and Youtong Ling, International Legal Project Manager (Hong Kong).
