Cleary Gottlieb represented Q&K International Group Limited (Q&K) in its initial public offering.
The IPO consisted of an offering of 3.105 million American depositary shares (including over-allotment option), each representing 30 Class A ordinary shares. The offering priced at $17 per ADS on November 4, 2019, and closed on November 7, 2019. The over-allotment option was fully exercised on November 11, 2019, and the option closing was on November 13, 2019.
The ADSs are listed on the Nasdaq Global Market under the ticker symbol “QK.”
Q&K is a leading technology-driven long-term apartment rental platform in China, offering young, emerging urban residents conveniently-located, ready-to-move-in, and affordable branded apartments as well as facilitating a variety of value-added services.