On May 12, 2022, Hainan Development Holdings Nanhai Co., Ltd. (Hainan Development with stock code 002163) offered 41,407,867 A-shares non-publicly to its controlling shareholder Hainan Development Holdings Co., Ltd. and successfully completed its listing on the Shenzhen Stock Exchange. The issue price was RMB14.49 per share, raising a total amount of RMB 599.99 million.
As the counsel of Hainan Development, JunHe assisted with the demonstration of the offering plan, and assisted in the drafting and revising of the subscription agreement and the documents for the board meetings. JunHe’s team conducted due diligence on Hainan Development, issued lawyer’s work reports and legal opinions, and analysed and provided answers to legal questions put forward by the regulatory authorities during the review process. JunHe provided professional and comprehensive legal services to the client and maintained open and effective communication and cooperation with Hainan Development and the other intermediaries involved in the project. They facilitated the completion of the non-public offering, and won the praise and recognition of the client and all the other parties involved in the project.
The project was led by Partner XIA, Ruhai and Partner ZHANG, Ping and was primarily undertaken by Partner YAO, Jiwei (Jervis) and Partner GUO, Xi (Edward). Partner SHANG, Shiming (George) was responsible for the internal review.