Kirkland & Ellis represented the underwriters on the initial public offering (IPO) of American depositary shares on the New York Stock Exchange of Zhihu Inc., an iconic online content community in China, under the ticker symbol “ZH”. The aggregate offering size of the IPO and the concurrent private placements is $772.5 million. The offering priced on March 25, 2021.
The underwriters included Credit Suisse Securities (USA) LLC, Goldman Sachs (Asia) L.L.C., J.P. Morgan Securities LLC, China International Capital Corporation Hong Kong Securities Limited, CMB International Capital Limited, China Renaissance Securities (Hong Kong) Limited, CLSA Limited, Haitong International Securities Company Limited, Lighthouse Capital International Inc., Tiger Brokers (NZ) Limited and Futu Inc.
The Kirkland team was led by transactional partner David Zhang and capital markets partner Steve Lin.