LexinFintech’s $124.2 Million Initial Public Offering

Shearman & Sterling advised Goldman Sachs, BofA Merrill Lynch, Deutsche Bank, China Renaissance and ICBCI as underwriters on the US$124.2 million initial public offering by LexinFintech Holdings Ltd. (LexinFintech) of 13.8 million American depositary shares (ADSs), which include 1.8 million ADSs sold pursuant to a full exercise of the underwriter’s over-allotment exercise, and the listing on the NASDAQ Global Market. LexinFintech is a leading online consumer finance platform in China.

LexinFintech’s ADSs were priced at US$9 each in the IPO and rose 21 percent to US$12.66 on its debut on December 21, 2017.

Founded in 2013, Shenzhen-based LexinFintech offers personal loan products through internet and mobile channels, targeting young adults between ages 18 and 36, a growing and educated group with high income potential and high consumption needs.

The Shearman & Sterling team was led by partner Matthew Bersani (Picture) (Hong Kong–Capital Markets), with support from counsel Yang Ge and associate Leonard Lou (both Beijing–Capital Markets).

Involved fees earner: Matthew Bersani – Shearman & Sterling; Yang Ge – Shearman & Sterling; Leonard Lou – Shearman & Sterling;

Law Firms: Shearman & Sterling;

Clients: Bank of America Merrill Lynch; Deutsche Bank; Goldman, Sachs & Co.; ICBC International Capital; China Renaissance Capital Investment;

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Author: Michael Patrini