DeHeng Advised Longyan Zhuoyue New Energy Co., Ltd.'s 

IPO on STIB, Shanghai Stock Exchange

2019-11-21

On November 21, 2019, Longyan Zhuoyue New Energy Co., Ltd. ("Zhuoyue New Energy") (stock code: 688196) successfully went public on the Science and Technology Innovation Board (STIB) of Shanghai Stock Exchange. A total of 30 million shares were issued for the initial public offering at a price of 42.93 yuan per share, raising 1.2879 billion yuan which is planned to be spent on building facilities with the annual capacity of 100,000 tons of biodiesel (non-grain) and 50,000 tons of natural fatty alcohol, as well as the research & development center, and on replenishing working capital. 

Founded in 2001, Zhuoyue New Energy is committed to resources recycling, in the form of research & development, production and sales of biodiesel and its derivatives (such as industrial glycerin, bio-ester plasticizer and water-borne alkyd resin), through the integrated recycling of waste oils (gutter oil, acid oil, etc.). Its products are used in clean energy and bio-based green chemicals and other fields, realizing the harmless disposal and recycling of waste oil. 

As the project legal counsel for the IPO, the DeHeng team, led by partners Ye Lanchang and Luo Yuanqing of the Shenzhen office, and with primary support from lawyers He Chao, Chen Fenyu, Wang Zicheng and Chen Qiaoye, as well as Li Hui and Rong Yu, provided comprehensive, professional and efficient legal services for the client.