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Shearman & Sterling Represents China Rapid Finance Limited in Initial Public Offering on New York Stock Exchange

4 May 2017

Shearman & Sterling represented China Rapid Finance Limited (NYSE:XRF) in its initial public offering on the New York Stock Exchange of American Depositary Shares (ADSs), each representing one Class A ordinary share.  The deal priced on April 29, 2017 and the ADSs were listed on the NYSE on April 30, 2017.  Initially, 10 million ADSs were issued at $6.00 per share, with an additional 1.5 million ADSs issued in the full exercise of the greenshoe. 

The Shearman & Sterling team included partner Larry Crouch (Menlo Park-Tax); counsel Yang Ge (Beijing-Capital Markets); associates Jeremy Cleveland (Menlo Park-Capital Markets), Chen Ye (Menlo Park-Capital Markets) and Ryan Bray (Menlo Park-Tax); and special associate Yvonne Chen (Shanghai-Capital Markets).

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