DeHeng Assisted AFR in Simplified Public Offering and Listing on ChiNext

2024-03-26

On March 1, 2024, Advanced Fiber Resources (Zhuhai) Ltd. (stock code: 300620, referred to as “AFR”) received approval from the China Securities Regulatory Commission (CSRC) to issue shares to specific investors via a simplified public offering procedure and list on the Shenzhen Stock Exchange ChiNext Market. The shares were successfully issued and listed recently at a price of RMB 40.10 per share, raising approximately RMB 180 million. The funds will primarily be used to expand production capacity for optical communication components and laser source modules by opening a new production line in Thailand.

As the issuer’s legal counsel, the DeHeng team, with primary support from partners Liu Zhenguo, Tang Yongsheng, and Sui Xiaojiao, as well as lawyer Zheng Zhuling and paralegal Zhao Weikai from the Shenzhen Office, delivered comprehensive, professional, and efficient legal services for the client.