Cleary Gottlieb represented Morgan Stanley, Haitong International, and Tiger Brokers as underwriters in the initial public offering of Yalla Group Limited.
The IPO consisted of an offering of 18.6 million American depositary shares, each representing one Class A ordinary share. The offering priced at $7.50 per ADS on September 29, 2020, and closed on October 2, 2020. The ADSs are listed on the New York Stock Exchange, under the symbol “YALA.”
Headquartered in the United Arab Emirates, with operating subsidiaries in the UAE and China, Yalla Group Limited is a leading voice-centric social networking and entertainment platform in MENA dedicated to providing people with superior social experiences online. It is an “emerging growth company.”