DHH Provided Legal Services For Listing China Putian Food on HK Stock Exchange
Release time：2012-08-01 11:29
On July 13, lawyers of Beijing DHH Law Firm attended a ceremony marking the successful listing of China Putian Food Holding Limited (stock code: 01699) on the main board of the HK Stock Exchange.
As a vertically integrated pork supplier Putian Food is mainly engaged in pig farming, pig slaughtering and pork sales. The public offering got 2.03 times subscription and the placing was slightly over-subscribed, collecting about 105 million yuan. Due to the conservative pricing the stock price of Putian Food soared 22.86% on the first trading day and swept away the recent declining tendency of IPO of the market.
The securities team leader and senior partner of Beijing DHH Law Firm, Fang Litang, duty lawyer Zhang Yiqian and the other lawyers of the securities team spent two years providing legal services for this project. They addressed such legal issues as corporate restructuring, foreign exchange registration, labor social security, tax preference, land and property etc.
The laws and regulations involved in the agricultural sector are complicated and subject to frequent revision. In order to collect first-hand information and ensure the accuracy of legal advice issued the lawyers interviewed farmers and paid visits to breeding sites, slaughtering sites, inspection and quarantining sites and transportation sites. They simultaneously inquired of government agencies at all levels regarding the operative norms of relevant laws and regulations.
Putian Food is the first enterprise in the agricultural sector that DHH Law Firm has provided with legal services for listing on the HK Stock Exchange.
It is believed that, with the support of government policy and the development of capital markets, more advanced and reputable enterprises will be established in China’s agricultural and food industries. These enterprises will make a positive contribution to lifting living standards in China.
As a vertically integrated pork supplier Putian Food is mainly engaged in pig farming, pig slaughtering and pork sales. The public offering got 2.03 times subscription and the placing was slightly over-subscribed, collecting about 105 million yuan. Due to the conservative pricing the stock price of Putian Food soared 22.86% on the first trading day and swept away the recent declining tendency of IPO of the market.
The securities team leader and senior partner of Beijing DHH Law Firm, Fang Litang, duty lawyer Zhang Yiqian and the other lawyers of the securities team spent two years providing legal services for this project. They addressed such legal issues as corporate restructuring, foreign exchange registration, labor social security, tax preference, land and property etc.
The laws and regulations involved in the agricultural sector are complicated and subject to frequent revision. In order to collect first-hand information and ensure the accuracy of legal advice issued the lawyers interviewed farmers and paid visits to breeding sites, slaughtering sites, inspection and quarantining sites and transportation sites. They simultaneously inquired of government agencies at all levels regarding the operative norms of relevant laws and regulations.
Putian Food is the first enterprise in the agricultural sector that DHH Law Firm has provided with legal services for listing on the HK Stock Exchange.
It is believed that, with the support of government policy and the development of capital markets, more advanced and reputable enterprises will be established in China’s agricultural and food industries. These enterprises will make a positive contribution to lifting living standards in China.