Shu Du

Ms. Du was recognized as a Next Generation Partner for her work in equity capital markets and corporate/M&A by Asia Pacific Legal 500 in 2022.

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

• Missfresh Limited in its US$273 million listing and initial public offering on Nasdaq in June 2021;
• AiHuiShou in its US$227 million initial public offering of American depositary shares and listing on the New York Stock Exchange in June 2021;
• BOSS Zhipin in its US$1.05 billion initial public offering of American depositary shares and listing on Nasdaq in June 2021;
• Waterdrop Inc. in its US$360 million initial public offering of American depositary shares and listing on the NYSE in May 2021;
• Zhihu Inc. in its US$523 million initial public offering of American depositary shares and listing on the NYSE in March 2021;
• Baidu, Inc. in its US$3.1 billion secondary listing and global offering of ordinary shares on the HKEX in March 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;
• JD.com, Inc. in its US$3.9 billion secondary listing of new ordinary shares on the HKEX in June 2020. This was the largest global offering on the Hong Kong Stock Exchange in 2020, and the second-largest globally. Ms. Du also advised on two rounds of SEC-registered offerings of senior unsecured notes: US$1 billion in January 2020 and US$1 billion in April 2016; in its secondary follow-on offering in December 2014 and in its initial public offering and listing on Nasdaq in May 2014;
• MINISO Group Holding Limited in its US$608 million initial public offering of American depositary shares and listing on the NYSE in October 2020;
• 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 of American depositary shares and listing on Nasdaq in October 2018;
• Meituan Dianping in its US$4.2 billion Hong Kong IPO in September 2018. This was named as one of the 2018 Overseas Deals of the Year by China Business Law Journal and as one of Asian-MENA Counsel magazine’s Deals of the Year for 2018; in its US$2 billion Rule 144A/Regulation S offering of senior notes in two tranches: US$750 million of 2.125% senior notes due 2025 and US$1.25 billion of 3.05% senior notes due 2030. The notes were listed on the Hong Kong Stock Exchange in October 2020. 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$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;
• Baidu, Inc. in its 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;
• 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 in its 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;
• Credit Suisse, UBS and other underwriters in the initial public offering of Mecox Lane Limited and listing on Nasdaq in October 2010;
• TAL Education Group in its initial public offering and listing on the NYSE 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; and
• 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:

• Baidu, Inc. in its US$3.6 billion proposed acquisition of JOYY Inc.’s livestreaming business in China in November 2020;
• 58.com Inc. in its US$8.7 billion going-private acquisition by a consortium of investors led by Quantum Bloom Group Ltd. and its subsidiary Quantum Bloom Company Ltd. The consortium also includes Warburg Pincus Asia LLC (Hong Kong), General Atlantic Singapore Fund Pte. Ltd., Ocean Link Partners Limited (Hong Kong), Mr. Jinbo Yao (chairman of the board and chief executive officer of 58.com) and Internet Opportunity Fund LP (China), an entity controlled by Mr. Yao in June 2020;
• 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;
• 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;
• Yirendai in its assumption of certain business operations from its parent company, CreditEase, as part of its business realignment with CreditEase in March 2019;
• JD.com, Inc. in its strategic transaction with Google, which invested US$550 million in cash as part of a strategic partnership in June 2018;
• Baidu, Inc. in its 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;
• JD.com, Inc. in its US$259 million investment in Vipshop, along with Tencent in December 2017;
• 58.com Inc. in its strategic transaction with Tencent, where Tencent invested US$200 million in cash and additional business resources in the Zhuan Zhuan joint venture that runs the online used goods business in April 2017;
• JD.com, Inc. in its RMB14.3 billion (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;
• Baidu, Inc. in its US$300 million investment in convertible notes issued by iQiyi.com, Inc., as part of the US1.53 billion issuance of certain convertible notes by iQiyi.com to a group of investors in February 2017; in Kuaishou’s Series D financing in March 2017; and in its equity financing for Baidu Delivery in October 2015;
• 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 closed in August 2016;
• 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;
• 58.com Inc. and other purchasers in their acquisition of Ganji.com, and 58.com in its PIPE issuance of shares and convertible bonds to Tencent, valued at over US$10 billion in total;
• 58.com Inc. in its US$267 million acquisition of Anjuke Inc. in March 2015;
• AutoNavi Holdings Limited in its going-private transaction with Alibaba Group in 2014, and in its US$300 million Series A preferred share financing from Alibaba Group in May 2013;
• JD.com, Inc. in a series of transactions with Tencent valued at $5.2 billion in 2014, including JD.com’s 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 the JD.com’s IPO;
• the management of E-House (China) Holdings Limited in its US$62.6 million MBO transaction in March 2013;
• E-House (China) Holdings Limited in its merger with and taking-private of Nasdaq-listed China Real Estate Information Corporation (CRIC), which valued CRIC at approximately US$600 million; and
• 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.