Anji Foodstuff Company Limited, for which JunHe acted as counsel (Anji Foodstuff), began to be listed on the Shanghai Stock Exchange on December 9, 2015 with the stock code 603696.
This offering, involving 30 million newly-issued A-shares, was completed by Anji Foodstuff partially through an offline allotment for inquirers and partially through an online allotment based upon the number of shares subscribed and the market value of the shares held by an investor, of which 3 million shares were issued offline and 27 million shares were issued online. The offering price in this IPO was RMB10.10 per share, and the aggregate amount raised was RMB303 million.
Anji Foodstuff was organized and registered in 1995 at Quanzhou, Fujian, and has been engaged in the development, manufacturing and sale of condiments since its inception. It has over 500 varieties of products, consisting of five major categories, namely seasoning powders of mixed flavors, seasonings from natural extracts, herbs and spices, sauces and condensed soups.
As the counsel of the issuer in this IPO, JunHe commenced providing legal services for this project in 2011, and has continued for four years until recently. Due to the assistance of JunHe, Anji Foodstuff rectified its historical issues, completed the restructuring into a joint stock company, and resolved an issue in respect of horizontal competition with the actual owners and other material legal issues. The legal services provided by JunHe for this project included due diligence, the design of the restructuring plan, the drafting of contracts and other legal documents, and the issuance of legal work reports and legal opinions with respect to the A-share IPO. JunHe’s performance was highly recognized by the client.
The partner who led the work for this project was Mr. Shi Tiejun. The lawyers who signed on the legal opinions were Mr. ZHANG, Jianwei and Mr. XIA, Ruhai, and the partner for internal review was ZHANG, Zongzhen.