Ehang, represented by ABL Lawyers, officially landed on Nasdaq Global Market on December 12, 2019 under the ticker symbol “EH”, becoming the first stock of passenger-grade autonomous unmanned aerial vehicle (AAV). The underwriters in this initial public offering of Ehang are Morgan Stanley, Tiger Brokers, Needham & Company and Prime Number Capital. Ehang issued 3.2 million American Depositary Shares ("ADS") representing 6.4 million class A ordinary shares at a price of $12.50 per ADS. The market value of Ehang on the first trading day was about $662 million.
Ehang is a technology innovation company for autonomous unmanned aerial vehicle, providing solutions to customers in the fields of passenger transportation, logistics, smart city management and aerial media by designing, developing, manufacturing, selling and operating AAV.
The AllBright legal team, led by senior partner Steve Zhu and included partnerFrank Xu, partner Joy Huang, associate Ken Lin and intern Cindy Wang, served as the legal counsels to Ehang on its IPO and Nasdaq listing and advised on PRC legal matters.