20 November, 2020
Skadden advised Nasdaq-listed Pinduoduo Inc., an innovative and fast-growing technology platform and one of the leading Chinese e-commerce players, in its registered public offering of US$ 1.75 billion in aggregate principal amount of convertible senior notes due 2025, and its upsized public offering of 28.7 million American Depositary Shares ("ADSs") priced at US$ 125 per share, for a total offering size of US$ 5.338 billion. In addition, the underwriters have an option to purchase up to an additional US$ 250 million in aggregate principal amount of the notes, and up to an additional 4,305,000 ADSs. Skadden also advised Pinduoduo Inc. on its IPO in July 2018 and other fundraising transactions thereafter.
The Skadden team was led by partners Julie Gao (Hong Kong) and Jonathan Stone (Hong Kong), with Counsel Yuting Wu (Shanghai), Asia Pacific Counsel Vincent Sze (Hong Kong), and associates Weiwei Chen (Hong Kong), Wang (Stan) Yao (Hong Kong), Rebecca Le Yang (Hong Kong), Tianze Ma (Beijing), Arthur Chan (Hong Kong), In Ho Kim (Seoul), and Yiting Li (Shanghai), and international legal consultants Xinru (Robin) Sun (Shanghai) and Fang Yuan (Shanghai).
