DeHeng Advised TINAVI on Listing on SSE STAR Market

2020-07-08

On July 7, 2020, Beijing TINAVI Medical Technology Co., Ltd. ("TINAVI") went public on the STAR Market of Shanghai Stock Exchange, under the stock code of "688277." TINAVI issued 41.9 million shares at the price of RMB 12.04 per share, raising RMB 504 million in total, having a total of 418,442,600 shares after the initial public offering. 

On the first day of trading, the stock opened at RMB 70 per share and closed at RMB 86, up 614.29% from the offering price, marking the highest first-day increase on the STAR Market.

TINAVI is the first surgical-robots standard maker in China. It has obtained the first medical robot registration certificate from China Food and Drug Administration (now National Medical Products Administration). Its TiRobot® Orthopedic Robotic System is so far the world's only robotic system capable of performing orthopedic surgeries for the whole spine and traumas, elevating China from a late-comer to a forerunner in the field of medical robotics. With the help of this system, clinicians have developed a number of new types of robot-assisted orthopedic surgery, benefiting numerous patients. TINAVI was the first Chinese company to participate in the formulation of the IEC standards for surgical robots, contributing China's share to global development in this field.  

As the legal counsel for the IPO, the DeHeng team was led by partners Xu Jianjun and Yang Xinghui, with primary support from lawyers Zhang Dingcheng, He Xinyu, Huang Liping and Zhong Yaqiong and paralegal Wang Anqi. They provided whole-process legal services for the client, including but not limited to the preparation and revision of legal opinions, analysis and discussion of major legal issues, reply to feedback opinions and collation of working papers. In close collaboration with the sponsor and the audit agency, they provided professional, efficient and high-quality legal services for this IPO.