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Zhong Lun Advises YY Inc. (YY) on Its IPO on NASDAQ Global Market
Zhong Lun Advises YY Inc. (YY) on Its IPO on NASDAQ Global Market
On November 21, 2012, YY Inc. (Stock Code: YY), a revolutionary rich communication social platform in China, made its Initial Public Offering (IPO) on Nasdaq Global Market in the U.S.. 7,800,000 of the Company’s American depositary shares (“ADSs") was issued at the price US$10.5 per ADS, and US$81,900,000 was collected from the IPO. Deutsche Bank Securities, Morgan Stanley and Citi Group are the main underwriters for this IPO.
Catherine Guo, a partner based in Zhong Lun’s Shenzhen office, led a team consisting of Shenzhen associates Elaine Liu, David Cheng and Kevin Zhou to advise as PRC legal counsel for YY on its IPO. The team also advised YY on its corporate structuring since its inception and provided full legal services in connection with its various rounds of financings by Morningside, Steamboat, GGV and Tiger etc.