2025.03.06
JunHe acted as the PRC legal counsel to the placement agent in the recent share placement by Black Sesame International Holding Limited (“Black Sesame”, HKEX: 2533). Black Sesame issued a total of 53,650,000 ordinary shares, raising approximately HK$1.24 billion (US$160 million). Black Sesame is a supplier of automotive-grade computing SoCs and SoC-based intelligent vehicle solutions. This was the first refinancing initiated by an intelligent automotive computing chip company on Hong Kong’s stock market and the first refinancing by a commercialized company under the new Chapter 18C regulations in Hong Kong.
The JunHe team participated throughout the entire process of the new share placement. They assisted the placement agent with the legal due diligence and the conclusion of the placement agreement and advised on the filing of Black Sesame’s new share placement with the China Securities Regulatory Commission.
ZHANG, Ke and LI, Chenliang led the JunHe team. Partner YI, Yisong provided support for the internal control matters and LI, Chenliang and WANG, Juewei (Jewel) were responsible for the specific work.
In August 2024, Black Sesame completed its initial public offering and was listed on the Hong Kong Stock Exchange, becoming the first intelligent driving chip stock on the Hong Kong Stock Exchange. JunHe also acted as the PRC legal counsel to the joint sponsors and underwriters in the IPO and listing of Black Sesame.
