Zhong Lun Advises Guangxi Fenglin Wood Industry Group Co., Ltd. on Shanghai Main Board IPO and Listing
Zhong Lun Advises Guangxi Fenglin Wood Industry Group Co., Ltd. on Shanghai Main Board IPO and Listing
On September 20, 2011, Guangxin Fenglin Wood Industry Group Co., Ltd. (Stock Code: 601996) successfully completed issuance of 58.62 million shares in its initial public offering (IPO) on the main board of Shanghai Stock Exchange at the price of 14 yuan per share, raising RMB 820.68 million.
Zhong Lun Law firm acted as legal counsel for the company in the IPO. The professional team included partner Yang Yuhong and counsel Fan Wei, and Wu Yingjing,Zheng Chunxiang, and Wu Si. The underwriter was HengTai Securities Co., Ltd.
As one of China’s largest wood industry groups, the company successfully brought in Gold Stone Investment Co., Ltd. and International Finance Corporation (IFC) as strategic investors before the IPO. The company focuses on the production and sale of medium (high) density fiberboard and plywood, as well as plantation business. The company currently holds four factories of Guangxi Nanning, Baise, Huanjiang, and Shangsi, and their production capacity is 530,000m3/year. The company also owns more than 200,000 acreages fast-growing and high-yield plantation. The total asset for the company is about 1 billion after the IPO.