DeHeng Advised Transimage on Obtaining CSRC
Approval for Private Placement of A-Shares
2020-04-20
On April 17, 2020, the application by Jiangsu Transimage Technology Co., Ltd. (hereinafter referred to as "Transimage") for a private placement of shares was reviewed and approved by the Issuance Examination Committee of China Securities Regulatory Commission (CSRC). Transimage plans to issue no more than 74,541,237 shares in private to no more than 35 specific investors meeting CSRC requirements, and raise no more than RMB 600 million in total.
After deducting the issuance fee, the money raised will be used for the project of medium- and high-end printed circuit board with an annual capacity of 180,000 square meters. The 5G era brings opportunities for the development of LCP-based flexible printed circuits. The above project will produce LCP-based flexible printed circuits and HDI circuits widely used in consumer electronic terminal products such as smart phones and wearable devices. This project is an important measure for Transimage to expand its presence in the industrial chain of consumer electronics, which conforms to the national industrial planning, development strategy and preferences of support.
Transimage (002866. SZ) is a state-level high-tech enterprise listed on the Shenzhen Stock Exchange, engaged in production, R&D, automatic assembly lines, export processing and trade, and other services and products for the IT industry. Its principal business covers the R&D, production and sales of components of laptops and other consumer electronic products, and its main products include the membrane touch switch (MTS) and the touchpad button of laptops, and flexible printed circuits for laptops and other consumer electronic products.
As the legal counsel for this private placement, the DeHeng team was led by partners Chen Haixiang and Shen Hongshan, with primary support from lawyers Wang Wei, Hu Haotian, Wei Kang and Ge Xiaoxia, and intern lawyers Zhao Liang, Liu Yue and Fan Rong. After the CSRC rolled out a series of regulations on refinancing in February 2020, DeHeng lawyers responded quickly, cooperated closely and actively with the issuer, Soochow Securities and other stakeholders, assisted the client in revising the private placement scheme, and provided comprehensive and professional legal opinions for the success of this project. Internal verification lawyers Wang He, Pu Hong, Zhao Yanan and Zhang Jiejun also provided valuable advice for this private placement. In the future, DeHeng will continue to provide professional legal services for Transimage, assisting it to keep scaling new heights in the capital market.
