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AllBright Lawyers Advise Underwriters on Wowo, Ltd. U.S. Initial Public Offering
AllBright Lawyers Advise Underwriters on Wowo, Ltd. U.S. Initial Public Offering
2015-04-099122Wowo, Ltd., the leading local lifestyle service e-commerce platform in China, was successfully listed on the Nasdaq exchange in the United States on April 8, 2015 (ticker: WOWO). Wowo was listed by way of American depositary shares (ADS) at a price of $10.00 per share for a capital raise of $40 million USD. On its first day of trading, Wowo rose to $11.06, a gain of 10%, to a market capitalization of $450 million USD.
Partner Steve Zhu led the AllBright legal team, which included partner Frank Xu and associates Wen Congjun and Huang Jingjing. The team served as legal counsel to the offering underwriters and advised on PRC legal matters.
