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JunHe Assisted Dawning Information Industry Company Limited in the Non-public Offering of Stocks for 2015

2016.07.22

In June 2016, Dawning Information Industry Company Limited successfully completed its project of non-public offering of stocks for 2015. The CSRC Issuance Examination Commission approved the application for this non-public offering of stocks on December 2, 2015. On December 31, 2015, the issuer received the Official Reply for Approval of the Non-Public Offering of Stocks by Dawning Information Industry Co., Ltd. (CSRC Approval [2015] No.3146) issued by the CSRC.

 

JunHe as the attorney of the issuer in this project, participated in the discussion and implementation of the plan for this non-public offering, the due diligence investigation, the drafting of relevant documents, the preparation of filing materials and the reply to feedback.

 

The total amount of capital raised through this non-public offering was RMB 1.4 billion, and the net amount of capital actually raised after deduction of the issuance cost was RMB 1.378 billion.

 

What makes this project special is: the issuer is an enterprise subordinate to the Chinese Academy of Sciences, our lawyers carried out detailed research and provided professional advice on whether approval from the Ministry of Finance (MOF) was required for this non-public offering, and assisted the issuer in obtaining the approval document from the MOF in a timely manner. During this non-public offering process, particularly after obtaining the approval from the CSRC, there were moments of  extreme market volatility. Our lawyers assisted the issuer in judging the market situation, suspending and choosing to restart the issuance, and resolutely implemented the high stock dividend measures for 2015, therefore ensuring the successful completion of the non-public offering.

 

The lead partner of this project is attorney Shi Tiejun.

JunHe is the only Chinese law firm to be admitted as a member of Lex Mundi and Multilaw, two international networks of independent law firms. JunHe and selected top law firms in major European and Asian jurisdictions are “best friends.” Through these connections, we provide high quality legal services to clients doing business throughout the world.