Molecular Data $61.2 Million Initial Public Offering and Nasdaq Listing

Davis Polk advised the lead underwriters on the SEC-registered initial public offering by Molecular Data Inc. of 11,500,000 American Depositary Shares sold by Molecular Data, for gross proceeds of $61.2 million. Each ADS represents three Class A ordinary shares of Molecular Data. Molecular Data has granted the underwriters an option to purchase up to an additional 1,725,000 ADSs to cover over-allotments. The ADSs are listed on Nasdaq under the symbol “MKD.”

Molecular Data is a leading technology-driven platform in China’s chemical industry, connecting participants along the chemical value chain through its integrated solutions. Built upon its core knowledge engine and supported by its artificial intelligence engine and software-as-a-service suite, it offers e-commerce solutions, financial solutions and warehousing and logistics solutions to all participants across the chemical value chain.

The Davis Polk corporate team included partners Li He and James C. Lin, counsel-registered foreign lawyer Ran Li and registered foreign lawyer Mendtuvshin (Mendee) Enkhtaivan. Counsel Alon Gurfinkel and associate Omer Harel provided tax advice. Counsel Marcie A. Goldstein provided FINRA advice. Members of the Davis Polk team are based in the Hong Kong, Beijing, London and New York offices.