13 October, 2020
Skadden advised Morgan Stanley & Co. LLC, Citigroup Global Markets Inc., UBS Securities LLC and China Renaissance Securities (Hong Kong) Limited as the underwriters on Chindata Group Holdings Limited's listing and initial public offering on the Nasdaq. Chindata offered 40 million American Depositary Shares (ADSs) at US$ 13.50 each, and the underwriters exercised their option to purchase an additional six million ADSs, for a total listing value of US$ 621 million. Each ADS represents two Class A ordinary shares of Chindata Group. Chindata Group is a carrier-neutral hyperscale data center solution provider in Asia-Pacific emerging markets. It is a Bain portfolio company. Trading commenced on 30 September.
The Skadden team was led by partner Julie Gao (Hong Kong), with Counsel Kenneth Chase (Hong Kong), Capital Markets Regulatory Counsel Pallas Comnenos (New York), and associate Xueyin Zhong (Beijing).
