DeHeng Advised Ruking Technology on Its Listing on the ChiNext Board of SZSE

2023-08-30

On August 30, 2023, Shanghai Ruking Technology Co., Ltd. (“Ruking Technology,” stock code: 301525) was officially listed on the ChiNext Board of the Shenzhen Stock Exchange (SZSE). For this initial public offering, Ruking Technology issued 23.59 million shares at the price of RMB 99.57 each, the second highest stock price on ChiNext of the year, and raised RMB 2,348,856,300, nearly 1.4 times the original target of RMB 982 million. The money raised will be mainly used for the construction of the new energy automotive electronics and intelligent manufacturing base, the R&D and testing center, and for replenishing the working capital.

As the issuer’s legal counsel, the DeHeng team, led by Shen Hongshan, director of its Shanghai Office, with primary support from business partner Wu Xiaoxia, lawyer Li Xiaoping, and paralegals Wan Guoliang and Li Xinyi, provided comprehensive, professional, efficient and high-quality legal services for the IPO.