WSGR Advises Underwriters in GSX Techedu's $200 Million IPO

On June 10, 2019, GSX Techedu completed its initial public offering of 19,800,000 American Depositary Shares (ADSs) at an offering price of $10.50 per ADS for a total offering size of approximately $207.9 million, making it the largest U.S. initial public offering among China-based education companies. The shares began trading on the New York Stock Exchange on June 6 under the ticker symbol "GSX." Credit Suisse Securities (USA), Deutsche Bank Securities, Barclays Capital, and CLSA Limited acted as underwriters in this offering. Wilson Sonsini Goodrich & Rosati acted as U.S. counsel to the underwriters in the offering.

GSX is a Chinese education company applying the latest technology to improve the mode of teaching delivery, student learning experience, and operational efficiency. Its core expertise is online K-12 courses, and it is the third largest after-school tutoring service provider in China.

The WSGR team representing the underwriters in the offering includes:

Corporate:
Dan Ouyang, Partner
Weiheng Chen, Partner
Ke Li, Counsel
Qin Zou, Associate
Claire Chen, Special Associate
Rujin Ruan, Legal Consultant

Tax:
Myra Sutanto Shen, Partner