DeHeng Advised IBR on Its IPO on the Shenzhen Stock Exchange
Chinext Board Through the Reform of Mixed Ownership System of SOEs

2017-03-30

On March 28, the IPO application (RMB-denominated ordinary shares (A shares), listing on the ChiNext Board) by Shenzhen Institute of Building Research Co., Ltd. ("IBR") was approved by the 24th meeting of the Issuance Appraisal Committee of CSRC in 2017. DeHeng provided legal advice for the entire process. IBR will soon be listed on the ChiNext Board of Shenzhen Stock Exchange. IBR will issue up to 36,666,700 RMB-denominated ordinary shares in the IPO.

Founded as a public institution for scientific research in 1992, IBR was reorganized into a limited liability company by Shenzhen Municipal Government in 2007. In 2013, it was restructured into a company limited by shares which is at the same time a national high-tech enterprise. Guided by the principle of green, ecological and low-carbon development, and featuring affordable, low-cost, refined and adaptable technologies, IBR harnesses full lifecycle technical services to provide comprehensive solutions covering research, planning, design, consulting, testing, project management, and operations for the construction of green buildings and eco-cities. By virtue of its advanced technology, overall strength and notable contributions, the company has won such honors as "New Records of Chinese Enterprises", "National Innovative Enterprise for Energy Saving Technology for Buildings", "100 Reputable Firms for Architectural Design in Contemporary China", and "National Green Building Pioneer Award". It has become a well-known and leading integrated technical service provider for green buildings and eco-cities in China.

DeHeng attorneys served as the issuer's attorneys in the IPO project of IBR. DeHeng team lead by partners Liu Zhenguo and Pu Hong and including associates Tang Yongsheng and Guo Yaosen, provided legal services since the mixed ownership reform of the company until the final approval for IPO in nearly seven years. DeHeng will, as always, continue to provide high-quality legal services to its excellent clients in the areas of domestic and overseas IPO and M&A transactions.