111, Inc.’s US$100m listing on the Nasdaq


Freshfields Bruckhaus Deringer has advised JP Morgan Securities LLC, Citigroup Global Markets Inc., China International Capital Corporation, as the joint book-running managers and representatives of the underwriters in the listing of American Depositary Shares (‘the shares’) of 111, Inc. on the Nasdaq.

The total offer value is estimated to be approximately US$100m (before the exercise of the over-allotment option).

111, Inc. provides hundreds of millions of consumers with better access to pharmaceutical products and medical services, directly through its online retail pharmacy and indirectly through its offline pharmacy network. It also provides online consultation and electronic prescription services to consumers in China through its internet hospital. It intends to use the proceeds of the transaction to invest in R&D, particularly developing technology solutions; for sales and marketing purposes; and for general corporate purposes.

The Freshfields team advising on the deal was led by partners Valerie Ford Jacob (picture), Yan Chen and Michael Levitt. They were supported by partner and China Chairman Teresa Ko and partners David Ludwick, Richard Bird, Robert Scarborough and counsel Jeremy Barr.

Involved fees earner: Valerie Jacob – Freshfields Bruckhaus Deringer LLP; Yan Chen – Freshfields Bruckhaus Deringer LLP; Michael Levitt – Freshfields Bruckhaus Deringer LLP; Teresa Ko – Freshfields Bruckhaus Deringer LLP; David Ludwick – Freshfields Bruckhaus Deringer LLP; Jeremy Barr – Freshfields Bruckhaus Deringer LLP; Richard Bird – Freshfields Bruckhaus Deringer LLP; Robert Scarborough – Freshfields Bruckhaus Deringer LLP;

Law Firms: Freshfields Bruckhaus Deringer LLP;

Clients: Citigroup Global Markets Ltd; China International Capital Corporation Limited (CICC); JP Morgan Securities;