Law360 (May 7, 2021, 3:22 PM EDT) — Chinese health insurance and crowdfunding technology company Waterdrop landed $360 million in an initial public offering before its shares debuted on the New York stock exchange Friday, with guidance from Skadden and underwriters’ counsel Davis Polk.

Waterdrop Inc. sold 30 million American depositary shares at $12 each, according to a statement. The offering hit the high end of a $10 to $12 range the company put forward in an April 30 registration statement.

If the underwriters opt to purchase the up to roughly 4.5 million additional shares set aside within 30 days, proceeds could increase to about $414 million, the company…

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