Haiping Li is the leader of the Shanghai office. She focuses on corporate finance transactions; cross-border mergers, acquisitions and investments; and other general corporate matters.

Bio

Ms. Li has extensive experience advising foreign private issuers, U.S. domestic issuers, selling shareholders, underwriters, initial purchasers in U.S. capital market transactions — including SEC-registered initial public offerings and follow-on equity and debt offerings, Rule 144A/Regulation S private placements, 1934 Act compliance and filings. She has advised U.S. public companies in mergers, acquisitions, business combinations, investments and dispositions. She also has advised companies on financings from private investors prior to, in connection with and after their initial public offerings in the U.S., and advised financial and strategic investors on investments in companies in various industries in China and the United States.

Ms. Li was named one of China’s “Rising Lawyers” by Asian Legal Business in 2015.

Her recent capital market experience includes:

Issuers in initial public offerings: representing companies out of China in NYSE/NASDAQ initial public offerings of American depositary shares, including:

  • ZTO Express (Cayman) Inc., a leading express delivery company in China and one of the largest express delivery companies globally;
  • Momo Inc., a revolutionary mobile-based social networking platform;
  • Jumei International Holding Limited, China’s No. 1 online retailer of beauty products;
  • JD.com, Inc., the largest online direct sales company in China;
  • 58.com Inc., the largest online marketplace serving local merchants and consumers in China;
  • YY Inc., a revolutionary rich-communication social platform;
  • Vipshop Holdings Limited, the leading online discount retailer for brands in China;
  • Yirendai Ltd., a online consumer finance marketplace in China connecting investors and individual borrowers;
  • Jupai Holdings Limited, a provider of wealth management services in China;
  • Yahoo! Inc. and Yahoo Hong Kong, selling shareholders in the initial public offering of Alibaba Group Holdings Limited;
  • Xunlei Limited, a Chinese internet company;
  • Tuniu Corporation, an online leisure travel company in China;
  • Weibo Corporation, a Chinese social media platform;
  • E-Commerce China Dangdang Inc., a business-to-consumer e-commerce company in China;
  • Youku Tudou Inc., China’s leading internet television company;
  • Renren Inc., the leading operator of real-name social networking internet platform in China;
  • NQ Mobile Inc., a global provider of mobile internet services;
  • RDA Microelectronics Inc., a China-based fabless semiconductor company;
  • Noah Holdings Limited, a wealth management service provider in China; and
  • Daqo New Energy Corp., a solar polysilicon manufacturer in China.

Public company representations:

  • Ctrip.com International Ltd., a NASDAQ-listed travel service provider in China, in its multibillion-dollar public offerings of equity and convertible debt securities;
  • Baidu, Inc., a NASDAQ-listed Chinese-language internet search provider, in its multibillion-dollar public offerings of debt securities; and
  • 58.com Inc., YY Inc., Youku Tudou Inc. and Vipshop Holdings Limited in their respective public offerings of equity and convertible debt securities; and U.S. public companies in their U.S. securities law compliance, corporate governance and periodic reporting.

Underwriter and initial purchaser representations:

  • Morgan Stanley, Citibank and Merrill Lynch in the follow-on offering and NYSE initial public offering of the largest provider of online education in China;
  • Morgan Stanley, BofA Merrill Lynch, Credit Suisse and Jefferies in the follow-on offerings of plasma-based biopharmaceutical company in China;
  • Credit Suisse and Merrill Lynch in the NASDAQ initial public offering of a mobile-based out-of-home advertising network in China;
  • Merrill Lynch and UBS in the NYSE initial public offering of a vertically integrated specialty pharmaceutical company;
  • Credit Suisse and Goldman Sachs in the proposed NYSE initial public offering of a vocational IT education provider in China;
  • JP Morgan and UBS in the Rule 144A private placement and HKEX initial public offering of a manufacturer of plastic pipes and pipe fittings in China, and the follow-on offering of high-yield debt securities; and
  • Morgan Stanley and Deutsche Bank in the proposed NASDAQ initial public offering of a provider of mobile email solutions in China.

Ms. Li’s recent M&A and private equity experience includes:

Company representations:

  • Ctrip.com International Ltd. (NASDAQ);
    • in its over US$1.7 billion acquisition of Skyscanner, the Scotland-based flight-search company, which is the largest travel tech acquisition in Europe to date;
    • in its acquisition of a strategic stake in Qunar Cayman Islands Limited (NASDAQ) from Baidu, Inc. (NASDAQ) and its business cooperation with Baidu;
    • in its partnership with The Priceline Group Inc. (NASDAQ), the world’s largest online travel service provider, and The Priceline Group’s over US$1.2 billion investment in Ctrip.com through convertible bonds;
    • in its acquisition of a strategic stake in eLong, Inc. (NASDAQ) from Expedia, Inc. (NASDAQ) and other selling shareholders, and its business cooperation with Expedia;
    • in its investment in MakeMyTrip (NASDAQ), India’s leading online travel company, through convertible bonds;
    • in its strategic partnership with Royal Caribbean Cruises Ltd. (NYSE), a global cruise company, through Skysea Cruises, a joint venture that is designed to serve the Chinese cruise market;
    • in its strategic investment in Travelfusion, a U.K.-based online low cost carrier travel content aggregator and innovator of Direct Connect global distribution solutions;
    • in its purchase of a business segment from Wing On International Holdings Limited, a HKEX listed conglomerate; and
    • in its various investments in travel-service related businesses in China, the United States, the United Kingdom and India;
  • 58.com Inc. (NYSE);
    • in its acquisition of a strategic stake in Ganji.com, a major online local services marketplace platform in China;
    • in strategic partnership with Tencent Holdings Limited (HKEX), a leading provider of comprehensive Internet services in China, and Tencent’s investment in 58.com Inc.;
    • in its acquisition of Anjuke, a major online real estate listing platform in China, to create China’s largest online secondary real estate platform; and
    • in its spin-off of Guazi.com Inc., which operates 58.com’s consumer-to-consumer used car trading platform;
  • Dianping Holdings Limited, China’s leading online-to-offline local services platform, in its multibillion issuance and sale of preferred shares to investors, including Tencent;
  • Dianping, in its business combination with Meituan, and Internet Plus, the combined company in its multibillion-dollar issuance and sale of preferred shares to investors;
  • DJI an aerial technology company, in its corporate partnership with Hasselblad Group, the leader in high-quality professional cameras;
  • Kingsoft (HKEX) and Xiaomi in their investments in 21Vianet (NASDAQ), a carrier-neutral internet data center services provider in China;
  • Bitauto Holdings Limited (NYSE), a provider of internet content and marketing services for China’s fast-growing automotive industry, in its US$1.3 billion investments from and strategic partnership with JD.com (NASDAQ) and Tencent;
  • Youku Tudou Inc. (NYSE: formerly known as Youku Inc.) in its acquisition through a merger and taking-private transaction of Tudou Holdings Limited (NASDAQ);
  • E-House (China) Holdings Limited (NYSE) in its acquisition through a merger and taking-private transaction of China Real Estate Information Corporation (NASDAQ), a majority subsidiary of E-house prior to the merger;
  • representing members of buyer consortium in the proposed taking private transactions of Qunar Cayman Islands Limited, Momo Inc., E-Commerce China Dangdang Inc., YY Inc., Airmedia Group Inc., 21Vianet and E-House (China) Holdings Limited;
  • representing special committee in the proposed taking-private transaction of Qihoo 360;
  • representing the company in the proposed taking-private transactions of RDA Microelectronics; and
  • Noah Holdings Limited (NYSE), in its private placement of convertible bonds.

Fund representation:

  • Hillhouse Capital, TPG, New Bridge, Sequoia Capital China, Chengwei Capital, SAIF Partners, GSR Ventures, DT Capital and Merrill Lynch private equity funds in their various investments in private and public companies with businesses in China.

Ms. Li is a native speaker of Mandarin and Shanghainese, and is fluent in English.

Credentials

Education

  • LL.M. in Corporate Law, New York University School of Law, 2004
  • LL.B., Shanghai International Studies University School of Law, 2000

Admissions

  • Hong Kong
  • New York

Languages

  • Mandarin Chinese
  • Shanghainese
  • English