Wilson Sonsini Goodrich & Rosati represented TuanChe in the offering and listing
TuanChe Limited (NASDAQ: TC), a leading omni-channel automotive marketplace in China, priced its initial public offering of 2,600,000 American depositary shares (“ADSs”) at ?US$7.80 per ADS. The ADSs have been approved for listing on the Nasdaq Capital Market and are expected to begin trading today under the symbol “TC.” Each ADS represents four Class A ordinary shares of the Company.
The total offering size is US$20.28 million, assuming the underwriters do not exercise their options to purchase up to an additional 390,000 ADSs. The underwriter options are exercisable within 30 days from the date of the final prospectus.
Maxim Group LLC and AMTD Global Markets Limited are acting as the joint book-running managers of this offering.
Wilson Sonsini Goodrich & Rosati advised TuanChe Limited with a team including Dan Ouyang (Picture), Ke Li, Qin Zou, Yuhang Li, Claire Chen and Myra Sutanto Shen.
Involved fees earner: Ke Li – Wilson Sonsini Goodrich & Rosati; Dan Ouyang – Wilson Sonsini Goodrich & Rosati; Myra Sutanto Shen – Wilson Sonsini Goodrich & Rosati; Qin Zou – Wilson Sonsini Goodrich & Rosati;
Law Firms: Wilson Sonsini Goodrich & Rosati;
Clients: TuanChe Ltd;