Yalla Completes NYSE IPO
10.08.20
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Simpson Thacher represented Yalla Group Limited (“Yalla”) in connection with its initial public offering and listing on the New York Stock Exchange. The offering comprised 18,600,000 American Depositary Shares (“ADSs”) representing 18,600,000 Class A ordinary shares before the exercise of the underwriters’ overallotment option. The base offering size was US$139.5 million. Morgan Stanley and Haitong International acted as the joint bookrunners of the offering.
Yalla is the leading voice-centric social networking and entertainment platform in the Middle East and North Africa (MENA). Since its founding, the company has been helping the local people in MENA to bring their traditions online and continue their social enjoyment in the mobile Internet era.
The Simpson Thacher team for the transaction included Yi Gao, Kai Fan, Cherrie Zhang, Keng-Wen Lin (Capital Markets); Tristan Brown (ECEB); and Jonathan Cantor and Edward Grais (Tax).