Latham & Watkins Advises on QuantaSing’s US$40 Million IPO
Latham & Watkins has advised the joint bookrunners, including Citigroup Global Markets Inc. and China International Capital Corporation, on the initial public offering of QuantaSing Group Limited, the parent company of the Chinese online learning service provider Qiniu. The offering consists of 3,250,000 American Depositary Shares listed on the NASDAQ Global Market under the symbol “QSG” for a total offering size of approximately US$40 million. The transaction represents the first US listing of a Chinese company in 2023.
QuantaSing offers easy-to-understand, affordable, and accessible online courses to adult learners under a variety of brands, including QiNiu, JiangZhen and QianChi. The company has also expanded its services to corporate clients providing them, among others, marketing services and enterprise talent management services.
The Latham team was led by Hong Kong corporate partners Benjamin Su and Daying Zhang, with Hong Kong counsel Eric Yiu, Shanghai associate Chimmy Tao and Hong Kong associate Mia Gu. Advice was also provided on tax matters by Los Angeles/Orange County partner Samuel Weiner, with San Diego associate Ryan Brenner.