Dacheng Advises Wujiang Luxiang Rural Microcredit Co.,Ltd on Successful NASDAQ Listing

On August 13, Wujiang Luxiang Rural Microcredit Co., Ltd, a microcredit company and quasi-financial institution, successfully completed a listing on NASDAQ, making it the first of its kind in China to be listed in the US. The successful listing and good performance thereafter caused quite a stir in relevant sectors, breaking new ground for the innovative development of China’s microcredit industry. The company submitted its prospectus to U.S. Securities and Exchange Commission (SEC) for the first time on June 10.
 
Dacheng advised the company on the listing in the US as PRC counsel. The project team, consisting of senior partners Zhao Baodong, Li Shoushuang, Zhang Run and partner Zhang Ting, delivered creative solutions to IPO capital structure design and complex legal issues on the basis of their sound, expert knowledge, industrious work attitude and creative mode of thinking.