Shu Du

She was named among the 2023 Dealmakers of Asia by Asian Legal Business and recognized as a Next Generation Partner for her work in equity capital markets and corporate/M&A by Asia Pacific Legal 500 in 2024.

Ms. Du’s experience in IPO and other capital markets transactions includes representing:

• JD.com, Inc. in its US$2 billion Rule 144A/Regulation S offering of 0.25% convertible senior notes due 2029 in May 2024; its US$3.9 billion secondary listing of new ordinary shares on the HKEX in June 2020, which was the largest global offering on the HKSE in 2020 and the second-largest globally; two rounds of SEC-registered offerings of senior unsecured notes: US$1 billion in January 2020 and US$1 billion in April 2016; its secondary follow-on offering in December 2014; and its initial public offering and listing on Nasdaq in May 2014
• Lotus Technology Inc. in its Nasdaq listing via its US$5.4 billion de-SPAC merger with L Catterton Asia Acquisition Corp in February 2024
• YSB Inc. in its initial public offering and listing on the HKEX in June 2023
• BOSS Zhipin in its dual primary listing of its Class A ordinary shares by way of introduction on the HKEX in December 2022; and US$1.05 billion initial public offering of American depositary shares and listing on Nasdaq in June 2021
• ECARX Holdings, Inc. in its Nasdaq listing via its US$3.8 billion de-SPAC merger with COVA Acquisition Corp. in December 2022
• MINISO Group Holding Ltd. in its US$72 million dual primary listing on the HKEX in July 2022; and US$608 million initial public offering of American depositary shares and listing on the NYSE in October 2020
• NaaS Technology Inc. in its Nasdaq listing via the reverse takeover of RISE Education Cayman Ltd in June 2022
• Zhihu Inc. in its US$106 million offering of Class A ordinary shares and dual primary listing on the HKEX, with a weighted voting rights structure, in April 2022; and US$523 million initial public offering of American depositary shares and listing on the NYSE in March 2021
• Baidu, Inc. in its US$1 billion offering of green bonds in August 2021; US$3.1 billion secondary listing and global offering of ordinary shares on the HKEX in March 2021; and 10 rounds of SEC-registered offerings of senior unsecured notes: US$950 million in October 2020, US$1 billion in April 2020, US$250 million in December 2018, US$1 billion in November 2018, US$1.5 billion in March 2018, US$1.5 billion in June 2017, US$1.25 billion in June 2015, US$1 billion in June 2014, US$1 billion in August 2013 and US$1.5 billion in November 2012
• AiHuiShou in its US$227 million initial public offering of American depositary shares and listing on the NYSE in June 2021
• Missfresh Limited in its US$273 million initial public offering of American depositary shares and listing on Nasdaq in June 2021
• JD Logistics in its US$3.2 billion initial public offering of ordinary shares and listing on the HKEX in May 2021
• Waterdrop Inc. in its US$360 million initial public offering of American depositary shares and listing on the NYSE in May 2021
• RLX Technology Inc. in its US$1.4 billion initial public offering of American depositary shares and listing on the NYSE in January 2021
• Yidu Technology Inc. in its US$531 million initial public offering of ordinary shares and listing on the HKEX in January 2021
• JD Health International Inc. in its US$3.47 billion initial public offering of ordinary shares and listing on the HKEX in December 2020. This is the largest IPO in Hong Kong in 2020 and the second-largest listing, with the largest being parent company JD.com’s secondary listing
• uCloudlink Group Inc. in its initial public offering of American depositary shares and listing on Nasdaq in June 2020
• Yunji Inc. in its US$121 million initial public offering of American depositary shares and listing on Nasdaq in May 2019
• Niu Technologies in its initial public offering and listing on Nasdaq in October 2018
• Meituan Dianping in its US$4.2 billion Hong Kong IPO in September 2018, which was named one of the 2018 Overseas Deals of the Year by China Business Law Journal and one of Asian-MENA Counsel magazine’s Deals of the Year for 2018; US$2 billion Rule 144A/Regulation S offering of senior notes in October 2020: US$750 million of 2.125% senior notes due 2025 and US$1.25 billion of 3.05% senior notes due 2030. This is Meituan’s first-ever U.S. dollar-denominated notes offering
• Aurora Mobile Limited in its initial public offering of American depositary shares and listing on Nasdaq in July 2018
• Uxin Limited in its US$230 million issuance and sale of 3.75% convertible notes due 2024 through a private placement to 58.com, Warburg Pincus LLC and TPG Capital, L.P. in May 2019; and US$225 million initial public offering of American depositary shares and listing on Nasdaq in June 2018
• LexinFintech Holdings Ltd. in its US$108 million initial public offering of American depositary shares and listing on Nasdaq in November 2017
• Yirendai Ltd. in its initial public offering and listing on the NYSE in December 2015
• Jumei International Holding Limited in its initial public offering and listing on the NYSE in May 2014
• Leju Holdings Ltd. in its initial public offering and listing on the NYSE in April 2014
• 58.com Inc. in its follow-on offering in March 2014; and initial public offering and listing on the NYSE in October 2013
• E-House (China) Holdings Limited in its issuance of US$135 million in aggregate principal amount of convertible senior notes due 2018 pursuant to Rule 144A and Regulation S in December 2013
• Ctrip.com International, Ltd. in its issuance of US$800 million in aggregate principal amount of convertible senior notes due 2018 pursuant to Rule 144A and Regulation S in October 2013
• Morgan Stanley, Deutsche Bank, Macquarie and other underwriters in the initial public offering of Phoenix New Media Limited and listing on the NYSE in May 2011
• BofA Merrill Lynch, J.P. Morgan and other underwriters in the initial public offering of Bona Film Group Limited and listing on Nasdaq in December 2010
• TAL Education Group in its initial public offering and listing on the NYSE in October 2010
• Credit Suisse, UBS and other underwriters in the initial public offering of Mecox Lane Limited and listing on Nasdaq in October 2010
• ChinaCache International Holdings Ltd. in its initial public offering and listing on Nasdaq in September 2010
• AutoNavi Holdings Limited in its initial public offering and listing on Nasdaq in June 2010
• China Real Estate Information Corporation in its initial public offering and listing on Nasdaq in October 2009

Ms. Du’s experience in merger and acquisition and private equity transactions includes representing:

• SHEIN in its strategic partnership with SPARC Group in October 2023
• Baidu, Inc. in its US$3.6 billion proposed acquisition of JOYY Inc.’s livestreaming business in China in November 2020; US$1.9 billion sale of a majority stake in its financial services business to a consortium led by TPG Capital, L.P. and The Carlyle Group L.P. in April 2018; US$300 million investment in convertible notes issued by iQiyi.com, Inc., as part of the US$1.53 billion issuance of certain convertible notes by iQiyi.com to a group of investors in February 2017; investment in Kuaishou’s Series D financing in March 2017; and equity financing for Baidu Delivery in October 2015
• 58.com Inc. in its US$8.7 billion going-private acquisition by a consortium of investors in June 2020; strategic transaction with Tencent where Tencent invested US$200 million in Zhuan Zhuan in April 2017; 58.com and other purchasers in their acquisition of Ganji.com, valued at over US$10 billion in total, in April 2015; and its US$267 million acquisition of Anjuke Inc. in March 2015
• JD.com, Inc. in its strategic cooperation agreement with Tencent and issuance of US$250 million in Class A ordinary shares to Tencent in May 2019; strategic transaction with Google, which invested US$550 million in cash as part of a strategic partnership in June 2018; US$259 million investment in Vipshop, along with Tencent, in December 2017; US$2.07 billion disposition of its 68.6% equity stake in JD Finance, which runs JD.com’s internet finance business, in March 2017; and series of transactions with Tencent valued at US$5.2 billion in 2014, including its acquisition of certain e-commerce businesses and assets from Tencent, the formation of a strategic partnership with Tencent and the placement of ordinary shares to Tencent concurrent with JD.com’s IPO
• Yirendai in its assumption of certain business operations from its parent company, CreditEase, as part of its business realignment with CreditEase in March 2019
• Didi Chuxing, a leading China-based ride-hailing service provider, in its acquisition of Uber China in August 2016
• E-House (China) Holdings Limited in its going-private transaction that closed in August 2016; US$62.6 million MBO transaction in March 2013; and merger with and taking-private of Nasdaq-listed China Real Estate Information Corporation (CRIC), which valued CRIC at US$600 million
• the special committee of the board of directors of Qihoo 360 Technology Co. Ltd. in its US$9.3 billion going-private transaction closed in July 2016
• China Music Corporation in its acquisition by Tencent to form Tencent Music Entertainment Group in July 2016
• Ctrip.com International, Ltd. in its strategic transaction with Expedia in connection with Expedia’s exit sale of its equity interest in eLong, Inc. in May 2015
• AutoNavi Holdings Limited in its going-private transaction with Alibaba Group in 2014; and US$300 million Series A preferred share financing from Alibaba Group in May 2013
• The Coca-Cola Company in a US$2.5 billion proposed takeover of Hong Kong-listed China Huiyuan Juice Group Limited

Ms. Du is fluent in English and Mandarin Chinese.