Press Release

Kirkland & Ellis Advises on IPOs of uCloudlink, Dada Nexus and Kingsoft Cloud on NASDAQ

Kirkland & Ellis advised the underwriters on the IPOs and listings on the Nasdaq Stock Market of uCloudlink Group Inc. (NASDAQ: UCL), the world’s first and leading mobile data traffic sharing marketplace, that raised US$36.18 million, Dada Nexus Limited (NASDAQ: DADA), a leading platform of local on-demand retail and delivery in China, that raised US$320 million, and Kingsoft Cloud Holdings Limited (NASDAQ: KC), one of China’s top cloud services providers, that raised US$586.5 million. The IPO of Kingsoft Cloud marked the biggest US IPO by a Chinese issuer so far in 2020. 

I-Bankers Securities, Inc., Valuable Capital Limited and Tiger Brokers (NZ) Limited were underwriters for the IPO of uCloudlink. Read the uCloudlink press release

Goldman Sachs (Asia) L.L.C., BofA Securities, Inc., and Jefferies LLC were underwriters for the IPO of Dada Nexus. Read the Dada Nexus press release

J.P. Morgan Securities LLC, UBS Securities LLC, Credit Suisse Securities (USA) LLC and China International Capital Corporation Hong Kong Securities Ltd. were underwriters for the IPO of Kingsoft Cloud. Read the Kingsoft Cloud press release

The Kirkland teams on these IPOs were led by transactional partners David Zhang and Steve Lin.