Dan Ouyang
Partner
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A Practice Leader
The leader of the capital markets practice in the firm’s Greater China group, Dan has represented corporate clients in over 100 IPOs and follow-on offerings in the U.S. and Hong Kong.
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Broad Range of Clients
She has represented corporate clients across a variety of industries, including technology, healthcare, education, and entertainment.
Dan Ouyang is a partner in the Beijing and Hong Kong offices of Wilson Sonsini Goodrich & Rosati, where she leads the capital markets practice in the Greater China group.
Dan has extensive experience with U.S. and Hong Kong equity offerings, Rule 144A and Reg S bond offerings, and private equity and M&A transactions. She has represented corporate clients across a range of industries, including technology, healthcare, education and entertainment, in more than 100 IPOs and follow-on offerings in the U.S. and Hong Kong.
Dan started her legal career in New York. Prior to joining the Wilson Sonsini, she was a partner at a large international firm's Beijing office. She was also previously a journalist at China Central Television and China Radio International.
Dan is a native speaker of Mandarin Chinese and is fluent in English.
Experience
Dan Ouyang is a partner in the Beijing and Hong Kong offices of Wilson Sonsini Goodrich & Rosati, where she leads the capital markets practice in the Greater China group.
Dan has extensive experience with U.S. and Hong Kong equity offerings, Rule 144A and Reg S bond offerings, and private equity and M&A transactions. She has represented corporate clients across a range of industries, including technology, healthcare, education and entertainment, in more than 100 IPOs and follow-on offerings in the U.S. and Hong Kong.
Dan started her legal career in New York. Prior to joining the Wilson Sonsini, she was a partner at a large international firm's Beijing office. She was also previously a journalist at China Central Television and China Radio International.
Dan is a native speaker of Mandarin Chinese and is fluent in English.
Education
- J.D., Cornell Law SchoolDean's List
- M.A., Cornell University
- B.A., Peking University
Honors
- Named “Woman Lawyer of the Year – Law Firm” by ALB in 2024
- Recognized as one of Asia’s “Top 15 Female Lawyers” by ALB in 2023
- Recognized as a highly regarded lawyer in capital markets in 2021, 2022, and 2023 by IFLR1000
- Recognized as one of China’s “Top 15 Female Lawyers” by ALB in 2021
- Recognized in Dealmakers of Asia – China (International Firms) by ALB in 2021, 2022, and 2023
- Honored in “The A-List” in 2019, 2020, 2021, 2022, and 2023 editions of China’s Elite Lawyers by China Business Law Journal
- Recognized in the 2021-2024 editions of Chambers Global, where sources praised that “Dan is more than an excellent lawyer; she is a strategist. She helps us navigate complex relationships among regulatory bodies, project intermediaries, investors and senior management, she always comes out with innovative solutions to address competing concerns.”
- Finalist in International Dealmaker of the Year by China Law & Practice Awards in 2020 and 2022
- Recommended capital markets attorney from 2019 to 2024 in the Greater China Guide by The Legal 500
- Finalist for “IPO Lawyer of the Year” by the Asia Legal Awards in 2022 and 2023
Admissions
- State Bar of New York
- Hong Kong
Credentials
Education
- J.D., Cornell Law SchoolDean's List
- M.A., Cornell University
- B.A., Peking University
Honors
- Named “Woman Lawyer of the Year – Law Firm” by ALB in 2024
- Recognized as one of Asia’s “Top 15 Female Lawyers” by ALB in 2023
- Recognized as a highly regarded lawyer in capital markets in 2021, 2022, and 2023 by IFLR1000
- Recognized as one of China’s “Top 15 Female Lawyers” by ALB in 2021
- Recognized in Dealmakers of Asia – China (International Firms) by ALB in 2021, 2022, and 2023
- Honored in “The A-List” in 2019, 2020, 2021, 2022, and 2023 editions of China’s Elite Lawyers by China Business Law Journal
- Recognized in the 2021-2024 editions of Chambers Global, where sources praised that “Dan is more than an excellent lawyer; she is a strategist. She helps us navigate complex relationships among regulatory bodies, project intermediaries, investors and senior management, she always comes out with innovative solutions to address competing concerns.”
- Finalist in International Dealmaker of the Year by China Law & Practice Awards in 2020 and 2022
- Recommended capital markets attorney from 2019 to 2024 in the Greater China Guide by The Legal 500
- Finalist for “IPO Lawyer of the Year” by the Asia Legal Awards in 2022 and 2023
Admissions
- State Bar of New York
- Hong Kong
Select Transactions
Hong Kong Capital Markets
- Represented WuXi XDC in its spin-off from Wuxi Biologics and its HK$4.07 billion Hong Kong IPO and listing
- Represented Xiamen Yan Palace Bird’s Nest Industry Co., Ltd. in its Hong Kong IPO and listing
- Represented Concord Healthcare Group Co., Ltd in its Hong Kong IPO and listing
- Represented Pu’er Lancang Ancient Tea Co., Ltd. in its Hong Kong IPO and listing
- Represented underwriters in ZX Inc.’s Hong Kong IPO and listing
- Represented underwriters in EDIANYUN Limited’s Hong Kong IPO and listing
- Represented underwriters in Beijing Luzhu Biotechnology Co., Ltd.’s Hong Kong IPO and listing
- Represented Fenbi Ltd. in its Hong Kong IPO and listing
- Represented TechStar Acquisition Corporation in its Hong Kong SPAC listing
- Represented Huafang Group Inc. in its Hong Kong IPO and listing
- Represented underwriters in Zibuyu Group Limited’s Hong Kong IPO and listing
- Represented Lepu Scientech Medical Technology (Shanghai) Co., Ltd. in its Hong Kong IPO and listing
- Represented Helens International Holdings Company Limited in its HK$3.06 billion Hong Kong IPO and listing
- Represented issuer in Angelalign Technology Inc.’s US$436 million Hong Kong IPO and listing
- Represented underwriters in Chaoju Eye Care Holdings Limited’s global offering and IPO
- Represented Newlink Technology Inc. in its HK872 million Hong Kong IPO and listing
- Represented Zero2IPO Holdings Inc. in its HK506 million Hong Kong IPO and listing
- Represented underwriters in Shandong Fengxiang Co., Ltd.’s HK$1.182 billion global offering and IPO
- Represented underwriters in Zhenro Service Group Limited’s HK$1.07 billion global offering and IPO
- Represented Wanka Online Inc. in its Hong Kong IPO
- Represented China Beststudy Education Group Limited in its Hong Kong IPO
- Represented underwriters in 21st Century Education Group Limited’s Hong Kong IPO
- Represented underwriters in 7Road Holding Limited’s HK$916 million global offering and IPO
- Represented Rici Healthcare Holdings Limited in its HK$1.07 billion global offering and IPO
- Represented Nexteer Automotive Group Limited in its US$260 million global offering and IPO
- Represented Forgame Holdings Limited in its US$206 million global offering and IPO
- Represented underwriters in Baioo Family Interactive Group’s US$196 million global offering and IPO
- Represented more than 10 underwriters in China Everbright Bank’s US$3 billion global offering and IPO, the largest Hong Kong IPO in 2013
- Represented Qingdao Port in its US$377 million global offering and IPO
U.S. Capital Markets
- Represented Cheche Group Inc. in its de-SPAC listing on Nasdaq
- Represented QuantaSing Group Limited in its IPO and listing on Nasdaq
- Represented YS Biopharma in its merger with Summit Healthcare Acquisition Corp.
- Represented Nano Labs in its IPO and listing on Nasdaq
- Represented Cloopen Group Holding Limited in its US$368 million IPO
- Represented Credit Suisse and Deutche Bank in GSX Techedu Inc.’s $208 million U.S. IPO, the largest U.S. IPO among China-based education companies, and in GSX’s $289 million U.S. follow-on offering
- Represented CICC and Citigroup in Opera Limited’s US$170 million IPO
- Represented Deutche Bank and Morgan Stanley in X Financial’s US$120 million IPO
- Represented Citigroup and Deutche Bank in Qutoutiao’s US$97 million IPO and $100 million follow-on offering
- Represented Citigroup and Deutche Bank in Puxin Limited’s US$140 million IPO
- Represented Tencent in Tencent Music’s U.S. IPO
- Represented China Index Holdings in its spin-off from Fang Holdings
- Represented Bright Scholar in its US$181 million NYSE IPO
- Represented iKang Healthcare Group, China's largest private operator of medical exam and disease screening centers, in its US$153 million IPO
- Represented underwriters JPMorgan and Credit Suisse in the US$115 million IPO by iDreamSky Technology Ltd., a leading Chinese game platform
- Represented underwriters Credit Suisse and Deutsche Bank in the US$65 million IPO by Taomee Holdings, a leading children's entertainment and media company
- Represented underwriters Credit Suisse and UBS in the US$75.7 million IPO by Zhaopin Limited, a China-based recruitment website
- Represented underwriters Morgan Stanley and Piper Jaffray in the US$87 million IPO by China Kanghui Holdings, a leading China-based medical device company
- Represented underwriters Morgan Stanley, Bank of American Merrill Lynch, and Credit Suisse in the US$350 million IPO by China Ming Yang Wind Power Group, a Chinese wind turbine manufacturer, the largest U.S. IPO among China-based issuers in 2010
- Represented Sinovac Biotech in its US$57 million follow-on offering
- Represented CNinsure in its US$115 million follow-on offering
- Represented VanceInfo Technologies in its $89 million follow-on offering
- Represented underwriters Credit Suisse and Morgan Stanley in RDA Microelectronics Inc.’s US$77 million follow-on offering
- Represented underwriters Deutsche Bank and Goldman Sachs in the US$83 million follow-on offering by Yingli Green Energy Holding Company Limited
- Represented Quhuo Limited in its NYSE IPO
Debt Experience
- Represented China National Bluestar in its US$1 billion two tranche investment-grade bond offering and subsequent perpetual bond offering
- Represented underwriters in the US$500 million investment-grade debt offering and 600 million Euro bond offering by Shanghai Electric Group
- Represented Hopson Development Holdings in its US$300 million high-yield bond offering
M&A and Private Equity
- Represented Synutra International, Inc. in its privatization
- Represented Perfect World Co., Ltd. in its going-private transaction
Matters
Select Transactions
Hong Kong Capital Markets
- Represented WuXi XDC in its spin-off from Wuxi Biologics and its HK$4.07 billion Hong Kong IPO and listing
- Represented Xiamen Yan Palace Bird’s Nest Industry Co., Ltd. in its Hong Kong IPO and listing
- Represented Concord Healthcare Group Co., Ltd in its Hong Kong IPO and listing
- Represented Pu’er Lancang Ancient Tea Co., Ltd. in its Hong Kong IPO and listing
- Represented underwriters in ZX Inc.’s Hong Kong IPO and listing
- Represented underwriters in EDIANYUN Limited’s Hong Kong IPO and listing
- Represented underwriters in Beijing Luzhu Biotechnology Co., Ltd.’s Hong Kong IPO and listing
- Represented Fenbi Ltd. in its Hong Kong IPO and listing
- Represented TechStar Acquisition Corporation in its Hong Kong SPAC listing
- Represented Huafang Group Inc. in its Hong Kong IPO and listing
- Represented underwriters in Zibuyu Group Limited’s Hong Kong IPO and listing
- Represented Lepu Scientech Medical Technology (Shanghai) Co., Ltd. in its Hong Kong IPO and listing
- Represented Helens International Holdings Company Limited in its HK$3.06 billion Hong Kong IPO and listing
- Represented issuer in Angelalign Technology Inc.’s US$436 million Hong Kong IPO and listing
- Represented underwriters in Chaoju Eye Care Holdings Limited’s global offering and IPO
- Represented Newlink Technology Inc. in its HK872 million Hong Kong IPO and listing
- Represented Zero2IPO Holdings Inc. in its HK506 million Hong Kong IPO and listing
- Represented underwriters in Shandong Fengxiang Co., Ltd.’s HK$1.182 billion global offering and IPO
- Represented underwriters in Zhenro Service Group Limited’s HK$1.07 billion global offering and IPO
- Represented Wanka Online Inc. in its Hong Kong IPO
- Represented China Beststudy Education Group Limited in its Hong Kong IPO
- Represented underwriters in 21st Century Education Group Limited’s Hong Kong IPO
- Represented underwriters in 7Road Holding Limited’s HK$916 million global offering and IPO
- Represented Rici Healthcare Holdings Limited in its HK$1.07 billion global offering and IPO
- Represented Nexteer Automotive Group Limited in its US$260 million global offering and IPO
- Represented Forgame Holdings Limited in its US$206 million global offering and IPO
- Represented underwriters in Baioo Family Interactive Group’s US$196 million global offering and IPO
- Represented more than 10 underwriters in China Everbright Bank’s US$3 billion global offering and IPO, the largest Hong Kong IPO in 2013
- Represented Qingdao Port in its US$377 million global offering and IPO
U.S. Capital Markets
- Represented Cheche Group Inc. in its de-SPAC listing on Nasdaq
- Represented QuantaSing Group Limited in its IPO and listing on Nasdaq
- Represented YS Biopharma in its merger with Summit Healthcare Acquisition Corp.
- Represented Nano Labs in its IPO and listing on Nasdaq
- Represented Cloopen Group Holding Limited in its US$368 million IPO
- Represented Credit Suisse and Deutche Bank in GSX Techedu Inc.’s $208 million U.S. IPO, the largest U.S. IPO among China-based education companies, and in GSX’s $289 million U.S. follow-on offering
- Represented CICC and Citigroup in Opera Limited’s US$170 million IPO
- Represented Deutche Bank and Morgan Stanley in X Financial’s US$120 million IPO
- Represented Citigroup and Deutche Bank in Qutoutiao’s US$97 million IPO and $100 million follow-on offering
- Represented Citigroup and Deutche Bank in Puxin Limited’s US$140 million IPO
- Represented Tencent in Tencent Music’s U.S. IPO
- Represented China Index Holdings in its spin-off from Fang Holdings
- Represented Bright Scholar in its US$181 million NYSE IPO
- Represented iKang Healthcare Group, China's largest private operator of medical exam and disease screening centers, in its US$153 million IPO
- Represented underwriters JPMorgan and Credit Suisse in the US$115 million IPO by iDreamSky Technology Ltd., a leading Chinese game platform
- Represented underwriters Credit Suisse and Deutsche Bank in the US$65 million IPO by Taomee Holdings, a leading children's entertainment and media company
- Represented underwriters Credit Suisse and UBS in the US$75.7 million IPO by Zhaopin Limited, a China-based recruitment website
- Represented underwriters Morgan Stanley and Piper Jaffray in the US$87 million IPO by China Kanghui Holdings, a leading China-based medical device company
- Represented underwriters Morgan Stanley, Bank of American Merrill Lynch, and Credit Suisse in the US$350 million IPO by China Ming Yang Wind Power Group, a Chinese wind turbine manufacturer, the largest U.S. IPO among China-based issuers in 2010
- Represented Sinovac Biotech in its US$57 million follow-on offering
- Represented CNinsure in its US$115 million follow-on offering
- Represented VanceInfo Technologies in its $89 million follow-on offering
- Represented underwriters Credit Suisse and Morgan Stanley in RDA Microelectronics Inc.’s US$77 million follow-on offering
- Represented underwriters Deutsche Bank and Goldman Sachs in the US$83 million follow-on offering by Yingli Green Energy Holding Company Limited
- Represented Quhuo Limited in its NYSE IPO
Debt Experience
- Represented China National Bluestar in its US$1 billion two tranche investment-grade bond offering and subsequent perpetual bond offering
- Represented underwriters in the US$500 million investment-grade debt offering and 600 million Euro bond offering by Shanghai Electric Group
- Represented Hopson Development Holdings in its US$300 million high-yield bond offering
M&A and Private Equity
- Represented Synutra International, Inc. in its privatization
- Represented Perfect World Co., Ltd. in its going-private transaction
Select Speaking Engagements
- Speaker, “World, Law & Future,” Cornell University, January 2024
- Panelist, “Cornell Women in Leadership: Strategies for Success and Driving Impact,” Cornell University, November 2023
- Panelist, “The China Elite: Partners in Discussion,” The Legal 500 Webinars, June 2022
- Speaker, E&Y China Healthcare Companies' IPO and related legal issues, November 2016
- Speaker, PwC China Education Companies' IPO and related legal issues, May 2016
- Speaker, China Medical Device Industry Annual Meeting, Medical Device Companies' HK IPO and related legal issues, April 2015
- Speaker, "Recent Issues in the U.S. IPO Market," JPMorgan U.S. IPO Conference, March 2015
- Speaker, "Recent Issues in the U.S. IPO Market," Deloitte China U.S. IPO Conference, January 2015
- Panelist, "TMT Companies HK IPO and related legal issues," Deloitte China High Growth Enterprises Conference, September 2014
Insights
Select Speaking Engagements
- Speaker, “World, Law & Future,” Cornell University, January 2024
- Panelist, “Cornell Women in Leadership: Strategies for Success and Driving Impact,” Cornell University, November 2023
- Panelist, “The China Elite: Partners in Discussion,” The Legal 500 Webinars, June 2022
- Speaker, E&Y China Healthcare Companies' IPO and related legal issues, November 2016
- Speaker, PwC China Education Companies' IPO and related legal issues, May 2016
- Speaker, China Medical Device Industry Annual Meeting, Medical Device Companies' HK IPO and related legal issues, April 2015
- Speaker, "Recent Issues in the U.S. IPO Market," JPMorgan U.S. IPO Conference, March 2015
- Speaker, "Recent Issues in the U.S. IPO Market," Deloitte China U.S. IPO Conference, January 2015
- Panelist, "TMT Companies HK IPO and related legal issues," Deloitte China High Growth Enterprises Conference, September 2014
Recent Insights
News Articles
IFLR1000 Recognizes Wilson Sonsini Practices, Attorneys in 2024 Guide
In the 2024 edition of its annual guide, IFLR recognized Wilson Sonsini practices and attorneys for their work in the financial and corporate sectors in the U.S. and China. The guide uses in-depth market analysis and interviews with practitioners and clients to determine leading financial and corporate law firms worldwide. Wilson Sonsini’s rankings are summarized below.
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Client Highlights
Wilson Sonsini Advises Underwriters on Black Sesame IPO and SEHK Listing, the First-Filed Chapter 18C Listing in Hong Kong
On August 8, 2024, Black Sesame International Holding Limited (Black Sesame) successfully listed on the Main Board of the Stock Exchange of Hong Kong, raising gross proceeds of approximately HK$1,036 million (US$132.6 million) from its IPO (the Listing), with market capitalization of approximately US$2 billion. Black Sesame is the first-filed Specialist Technology Company that was successfully listed under Chapter 18C of the Hong Kong Listing Rules, a new regime introduced by the SEHK in March 2023 primarily for pre-revenue technology companies. Black Sesame’s IPO is also one of the largest offerings in the Hong Kong market in 2024. Wilson Sonsini Goodrich & Rosati acted as the Hong Kong and U.S. counsel in the Listing to the underwriting syndicate led by the joint sponsors China International Capital Corporation Hong Kong Securities Limited and Huatai Financial Holdings (Hong Kong) Limited.
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