DeHeng Advised Beijing United Information Technology
on Its IPO on the Main Board of Shanghai Stock Exchange
2019-07-30
On July 30, 2019, Beijing United Information Technology Co., Ltd. (Stock Code: 603613) was successfully listed on the main board of Shanghai Stock Exchange and became the first A-share B2B e-commerce company in China.
Founded in 2002, Beijing United Information Technology is one of the first third-party operation service providers for B2B e-commerce platforms to adopt the vertical industry cluster model. Its business scope covers the comprehensive service platform www.ibicn.com, the vertical trading platforms www.toodudu.com, www.wdoodoo.com and www.boododo.com, and Internet+application services www.ibiall.com, Taste of Shu and Xiao Zi Niao.
It is committed to deeply integrating the Internet and the Internet of Things into traditional industries to help the latter reduce cost and increase efficiency. In October 2018, it was officially designated as a national pilot enterprise for supply chain innovation and application, an honor jointly certified by eight ministries and commissions including the Ministry of Commerce, the Ministry of Industry and Information Technology and China Banking and Insurance Regulatory Commission. In December 2018, its three e-commerce platforms toodudu.com, wdoodoo.com and boododo.com received the "Excellent Cases of Industrial E-commerce Platforms" voted under the guidance of the Ministry of Industry and Information Technology.
For this IPO, it issued 35.21 million shares at the price of RMB15.13 per share, and raised RMB532.7273 million. The money raised will be used to upgrade the e-commerce platforms, develop the national marketing system, fund the SaaS system R&D project and the industrial Internet R&D center, and replenish the company's working capital.
As the special legal counselor for the IPO, the DeHeng team was led by partner Sun Yanli and lawyer Qi Xin, with primary support from Ma Quan, Di Shuang, Zhao Mingbao and Li Jing. Their professional and efficient legal services helped the company successfully enter the capital market.
