Weidai’s $45 Million Initial Public Offering


Simpson Thacher represented the underwriters, Morgan Stanley, Citigroup and AMTD Tiger, in connection with the initial public offering and listing on the New York Stock Exchange of American Depositary Shares (“ADSs”) of Weidai Ltd. (“Weidai”).

The offering of 4,500,000 ADSs, representing 4,500,000 Class A ordinary shares, raised a total of US$45 million in gross proceeds before the exercise of underwriters’ overallotment option.

Weidai is a leading auto-backed financing solution provider in China. Weidai’s ADSs are traded on the New York Stock Exchange under the symbol “WEI.”

The Simpson Thacher team for the transaction included Chris Lin (Picture), Daniel Fertig, David Lee, Kai Fan and Andrew Laub (Capital Markets); Jonathan Cantor and Brian Mendick (Tax); and Jennie Getsin (FINRA).

Involved fees earner: Jonathan Cantor – Simpson Thacher & Bartlett; Kai Fan – Simpson Thacher & Bartlett; Daniel Fertig – Simpson Thacher & Bartlett; Jennie Getsin – Simpson Thacher & Bartlett; Andrew Laub – Simpson Thacher & Bartlett; David Lee – Simpson Thacher & Bartlett; Chris Lin – Simpson Thacher & Bartlett; Brian Mendick – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: AMTD Global Markets; Citigroup Inc.; Morgan Stanley;