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Simpson Thacher represented Cango Inc. (“Cango”) in connection with its initial public offering and listing on the New York Stock Exchange. The offering of 4,000,000 ADSs, representing 8,000,000 Class A ordinary shares and 2.7% of Cango’s outstanding post-IPO share capital, raised US$40.9 million of gross proceeds and resulted in a market capital capitalization of over US$1.6 billion, before exercise of the underwriters’ overallotment option. Morgan Stanley, BofA Merrill Lynch and Goldman Sachs (Asia) L.L.C. acted as the representatives of the underwriters.

Cango is a leading automotive transaction service platform in China connecting dealers, financial institutions, car buyers and other industry participants. Cango’s American Depository Shares are traded on the New York Stock Exchange under the symbol “CANG.”

The Simpson Thacher team for the transaction included Chris Lin, Daniel Fertig, David Lee, Kai Fan and Andrew Laub (Capital Markets); and Jonathan Cantor and Pierce Pandolph (Tax).