Cases
Hylands assists Garden Biological’s project of Non-public Offering of A Shares to be approved by the CSRC
Concerning the non-public offering of A shares on the Growth Enterprise Market of Zhejiang Garden Biochemical High-tech Co. Ltd. (Garden Biochemical) in 2019, the China Securities Regulatory Commission issued the Reply on the Approval of the Non-public Offering of Shares of Zhejiang Garden Biochemical High-tech Co. Ltd. (ZJXK [2020] No.1067) on June 3, 2020, approving the non-public offering of not more than 143,786,494 new shares by Garden Biochemical.
Established in the year 2000 in Zhejiang Province, Garden Biochemical mainly engages in the R&D, production, and sales of upstream and downstream products of Vitamin D3. Garden Biochemical was approved by the China Securities Regulatory Commission for the initial public offering in 2014 and listed on the Growth Enterprise Market of the Shenzhen Stock Exchange, with the stock abbreviation: Garden Biochemical and stock code: 300401.
The total fund raised from the non-public offering of A shares on the Growth Enterprise Market by Garden Biochemical didn’t exceed CNY 990.4 million. After deducting the issuance cost, the fund will be used for the: Project of lanolin cholesterol with an annual output of 1,200 tons and refined lanolin with an annual output of 8,000 tons, Project of feed-grade VD3 powder with an annual output of 3,600 tons and food-grade VD3 powder with an annual output of 540 tons, Project of 25- hydroxyvitamin D3 with an annual output of 26 tons, Project of sterol with an annual output of 40.5 tons, Project of 25- hydroxyvitamin D3 crystal with an annual output of 15.6 tons and additional working capital.
Engaged as the special legal adviser for the non-public offering of shares of Garden Biochemical, Hylands Law Firm provided legal services for the discussion of the offering plan, due diligence, compliance consultation, risk control and issuance of legal opinions, etc. for the non-public offering of shares, which successfully helped the non-public offering of shares to be approved by the China Securities Regulatory Commission. The project was undertaken by a team led by attorney Bingwu SHI, a partner of Hylands Law Firm, and composed of attorney Xiaodong ZHANG and attorney Lulu ZHANG.