DEALS
Zhong Lun Advises Shenzhen Inovance Technology Co., Ltd. on ChiNext IPO and Listing
Zhong Lun Advises Shenzhen Inovance Technology Co., Ltd. on ChiNext IPO and Listing
On July 27, 2010, Shenzhen Inovance Technology Co., Ltd. (the Company) was approved by the China Securities Regulatory Commission to launch an initial public offering (IPO) and get listed on the Nasdaq-like ChiNext in China.
Zhong Lun Law Firm advised the Company on the IPO and listing. Professionals included partners Dai Zhiwen, Xu Zhigang and Zhang Wen, associates Yu Jie, Chen Chengbei and Mo Haiyang. The underwriter was China Jianyin Investment Securities Co., Ltd.
Shenzhen Inovance Technology Co., Ltd. plans to issue 27 million new shares. Post-listing, it will have an enlarged share capital of 108 million shares. The Company is mainly engaged in the research and production of industrial automation and control systems. Funds raised from the IPO will be used for working capital and to invest in six projects. In 2007, 2008 and 2009, its net profit was RMB55.2 million, RMB55.3 million and RMB102 million respectively.
