Simpson Thacher Represents Underwriters in the NASDAQ IPO of Agora
06.30.20
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Simpson Thacher represented the underwriters in connection with the initial public offering and listing on the Nasdaq Global Select Market of Agora, Inc. (“Agora”). The offering comprised 20,125,000 American Depositary Shares (“ADSs”), representing 80,500,000 Class A ordinary shares after exercise of the underwriters’ overallotment option in full. The total offering size was US$402.5 million. Morgan Stanley and BofA Securities acted as the representatives of the underwriters.
Agora is a leading Real-Time Engagement Platform-as-a-Service (or RTE-PaaS ) provider in China and also a global leader by market share in this rapidly growing industry. Its platform provides developers simple-to-use, highly customizable and widely compatible application programming interfaces (or APIs) to embed real-time video and voice functionalities into their applications without the need to develop the technology or build the underlying infrastructure themselves. Agora’s ADSs are traded on the Nasdaq Global Select Market under the symbol “API.”
The Simpson Thacher team for the transaction included Chris Lin, Yi Gao and Cherrie Zhang (Capital Markets); Jonathan Cantor (Tax); and Jennie Getsin (FINRA and Blue Sky).