20 November, 2020
Skadden advised Yatsen Holdings Limited, a leader in China's beauty market, on its listing and initial public offering of 58,750,000 American Depositary Shares ("ADSs") on the New York Stock Exchange. The ADSs were priced at US$10.50 per ADS, for a total offer value of US$616.9 million, assuming the underwriters do not exercise their option to purchase up to an aggregate of 8,812,500 additional ADSs. Trading commenced on 19 November 2020.
According to media reports, Yatsen Holdings Limited rose 75% on its trading debut.
The Skadden team was led by partners Julie Gao (Hong Kong), Haiping Li (Shanghai), with counsel Yuting Wu (Shanghai) and associates Yiting Li (Shanghai), Rebecca Yang (Hong Kong) and Zhiyuan (John) Cai (Beijing).
