The Hong Kong office of the Firm represented the underwriters, Morgan Stanley, Credit Suisse, China Renaissance and Needham, in connection with the initial public offering and listing on the NYSE of American depositary shares (“ADSs”) of Yirendai Ltd. (“Yirendai”). The offering of 7,500,000 ADSs, representing 15,000,000 ordinary shares of Yirendai, raised US$75 million of gross proceeds before the exercise of greenshoe option.
Yirendai is a leading online consumer finance marketplace in China. Its ADSs are listed under the trading symbol “YRD.”
The Simpson Thacher team for the transaction included Chris Lin, David Lee and Bruce Sun (Corporate); Jennie Getsin (FINRA); and Michael Badain (Tax).