JunHe acted as the PRC legal counsel to the placement agent in a new share placement by XtalPi Holdings Limited (stock code: 2228.HK). A total of 264 million new shares were issued, generating approximately HKD 1.13 billion (USD 145 million) in net proceeds, making it one of the largest new share placements in Hong Kong in the past year.
The JunHe team was involved in the entire process of the share placement. We conducted legal due diligence, assisted the placement agent with the conclusion of the placement agreement, and worked closely with the other intermediaries to prepare and issue all the legal documents required for the filing of the overseas placement of additional shares with the China Securities Regulatory Commission.
JunHe’s team was led by partners TAO, Xudong, LIN, Jiayu (Paul), ZHANG, Jianwei and ZHANG, Zhijin (Jean), and partner YI, Yisong provided support for the internal control.
XtalPi Holdings is the first specialist technology company to be listed on the Hong Kong Stock Exchange under the new Chapter 18C listing rules. JunHe also acted as the PRC legal counsel to the sole sponsor and underwriter in XtalPi Holdings' IPO project.