On June 28th 2019, Impro Precision Industries Limited (stock code: 1286.HK,‘Impro Precision’) was successfully listed on the HKEx Main Board. Impro Precision issued 333 million shares at an issuing price of HKD 3.0 per share and the total issuance amount was HKD 1 billion.
Impro Precision is one of the world's top ten manufacturers of castings and machined parts with precise, complex and critical mechanical properties. Its products are utilized in different terminal markets. Based on total revenue in 2018, Impro Precision is the seventh largest independent investment-casting manufacturer globally and the largest Chinese investment-casting manufacturer. Additionally, it is the fourth largest global precision machining company in the automotive, aerospace and hydraulic terminal markets. It is also one of the few manufacturers to provide a one-stop solution, consisting of initial research and development, mold design and manufacturing, casting, heat treatment, secondary machining and surface treatment.
Since 2008, JunHe has been acting as the issuer's domestic legal counsel. In this instance, JunHe, participated and provided professional legal services throughout, including domestic due diligence, reviewing and revising the prospectus, conducting PRC legal opinions to the issuer, resolving a number of legal issues involving notes financing, security incidents, environmental compliance and major litigation. Regarding the PRC legal issues involved in this project, JunHe and other intermediaries jointly assisted the issuer and dealt with all feedback in a timely manner, laying a solid foundation for the company's successful listing.
The leading partners for the project were Mr. SHAO, Chunyang and Mr. FENG, Cheng.