On January 25, 2023, QuantaSing Group Limited announced the pricing of its initial public offering of 3,250,000 American depositary shares (ADSs) at a price to the public of US$12.50 per ADS for a total offering size of approximately US$40.6 million (or US$46.7 million assuming the underwriters exercise their option to purchase additional ADSs in full). The ADSs began trading on the Nasdaq Global Market on January 25, 2023, under the symbol "QSG." This transaction is among the largest U.S. initial public offerings for China-based issuers since August 2021. Citigroup Global Markets Inc. and China International Capital Corporation Hong Kong Securities Limited acted as representatives of the underwriters of this offering. Wilson Sonsini Goodrich & Rosati acted as U.S. counsel to QuantaSing in this offering.

QuantaSing is the largest online learning service provider in China’s adult learning market for personal interest courses and among the top five service providers in China’s total adult learning market. It offers online courses to adult learners empowering them to pursue personal development and enterprise services to corporate clients.

The Wilson Sonsini team representing QuantaSing in this transaction includes:

Corporate
Dan Ouyang, Partner
Ke Li, Of Counsel
Zhenzhen Bao, Associate
Celia Li, Associate
Giselle Ma, Associate
Olive Ma, Special Associate

Tax
Myra Sutanto Shen, Partner
Han Shen, Associate

Please see QuantaSing's press release for more information.