US pair Davis Polk & Wardwell and Simpson Thacher & Bartlett have scored mandates on the planned New York listing of Chinese internet company Baidu's online travel unit. The listing of Qunar Cayman Islands, valued at $125m (£78m), comes as China's big four internet companies compete with each other to grow their businesses abroad. The initial public offering (IPO) is thought to be the largest by a Chinese company in the US for two years. Davis Polk won the role of issuers' counsel, fielding a team led by Beijing-based capital markets partner Li He.
October 10, 2013 at 07:03 PM
1 minute read
The original version of this story was published on Legalweek
US pair Davis Polk & Wardwell and Simpson Thacher & Bartlett have scored mandates on the planned New York listing of Chinese internet company Baidu’s online travel unit.
The listing of Qunar Cayman Islands, valued at $125m (£78m), comes as China’s big four internet companies compete with each other to grow their businesses abroad. The initial public offering (IPO) is thought to be the largest by a Chinese company in the US for two years.
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