Waterdrop Inc.

Waterdrop Inc. (WDH) priced its initial public offering on May 7, 2021 at $12.00 per share, raising $360M, and listed on NYSE. At the IPO price its market capitalization was about $47.3B. Goldman Sachs was lead-left underwriter, joined by Morgan Stanley, BofA Securities and ABCI and others. Skadden, Arps, Maples and Calder and Han Kun advised the company and Davis Polk and JunHe advised the underwriters.

Waterdrop Inc. is a technology platform for insurance and healthcare services in China. Through its insurance marketplace, medical crowdfunding and mutual aid platforms, it reports being the largest independent third-party insurance platform in China by life and health first year premiums distributed in 2020.

Status

IPO

Ticker

WDH

Exchange

NYSE

Priced

May 7, 2021

IPO price

$12.00

Raised

$360M

Market cap at IPO price

$47.3B

First filed

Apr 16, 2021

Underwriters

Goldman Sachs, Morgan Stanley, BofA Securities, ABCI, China Merchants, CLSA, Haitong and US Tiger

Company counsel

Skadden, Arps, Maples and Calder and Han Kun

Underwriters' counsel

Davis Polk and JunHe

Sector

Financials

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.