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Latham Advises on Yuanbao’s IPO

May 2, 2025
Asia team represents the underwriters in the insurtech company's offering on the Nasdaq.

Latham & Watkins has advised the lead underwriters, including Goldman Sachs, Citigroup, and CICC, in Yuanbao’s initial public offering (IPO) on the NASDAQ. Yuanbao is a leader in the insurtech industry and at the forefront of the online personal insurance field, focusing on inclusive health insurance.

The IPO was priced at US$15 per American Depositary Share (ADS). Yuanbao issued a total of 2.3 million ADSs, raising US$34.5 million, with a post-IPO valuation of approximately US$681 million, assuming the underwriters exercise their over-allotment option in full.

The Latham team was led by Hong Kong corporate partners Daying Zhang and Benjamin Su, with associates Chimmy Tao and Lizzy Zhang, New York corporate attorney Marta Talarek, and Hong Kong paralegal Man Kuen Amy Tai. Advice was also provided on US regulatory matters by Washington, D.C. partner Les Carnegie, with counsel Catherine Hein; and on tax matters by San Diego associate Ryan Brenner.

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