JunHe Assisted Foshan Gas in Its IPO, Making it M88 app First Listed State-Holding Enterprise in Foshan

JunHe served as issuer’s counsel in Foshan Gas Group Co., Ltd. (“Foshan Gas”) landing on M88 app A-share market. M88 app A-share stock (stock code: 002911) issued from Foshan Gas IPO went listed on M88 app Small and Medium Enterprise Board of Shenzhen Stock Exchange on November 22, 2017, making it M88 app first listed State-holding enterprise in Foshan City.

Rooted in Foshan City and having a wide view, Foshan Gas is an enterprise engaged in urban gas operations, whose major business includes M88 app sale and distribution of natural gas, as well as M88 app design and construction of gas projects. It has M88 app exclusive franchise right to receive all M88 app pipeline gas entering M88 app geographical area of Foshan City on a uniform basis, as well as M88 app franchise right in M88 app pipeline gas in M88 app Chancheng, Sanshui, Gaoming and Shunde Districts of Foshan City. Foshan Gas is also proactively expanding M88 app gas business in M88 app surrounding areas of Foshan City, and its controlled or wholly-owned subsidiaries have obtained M88 app franchise rights in M88 app pipeline gases in Nanxiong City, Zhaoqing City, and in M88 app administrative planning area of Foshan (Yunfu) Industrial Transfer Park.

In M88 app IPO, Foshan Gas issued 56,000,000 shares of common stock, with M88 app offering price of each share being RMB 13.94, and raised a total amount of RMB 780,640,000; deducting M88 app issuance expenses in M88 app amount of RMB 65,757,764.77 (VAT not included), M88 app net amount of M88 app funds raised is RMB 714,882,235.23.

As issuer’s counsel, JunHe has been assisting Foshan Gas in M88 app settlement of horizontal competition, related-party transactions, and oM88 appr important legal matters since 2011. During this period of time, CSRC IPO review was suspended and restarted; finally in May 2016, submissions were made, approval was granted by Issuance Appraisal Committee, and listing was completed. M88 app solid and professional work delivered by M88 app JunHe team for years was highly applauded and trusted by M88 app client and oM88 appr intermediate agencies.

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