Hylands Provides Comprehensive Legal Services for the IPO of Flagchem, the first listed company on the NEEQ

On December 20, 2016, Jiangsu Flag Chemical Industry Co. Ltd. (stock abbreviation: Flagchem, stock code: 300575), as the first listed company successfully made its IPO on NEEQ after the market enlargement and was listed on the Growth Enterprise Market. Its stock price rose by more than 10% on the first day of trading and was temporarily suspended from trading on the Shenzhen Stock Exchange.

The team led by attorneys Yukai ZHANG and Gang LI, partners of Hylands Law Firm, and composed of attorneys Lei LIU, Zhengjun HE, and Xiaoxian LI, has accompanied Jiangsu Flag Chemical Industry through various important moments since 2011, including the introduction of investors, joint-stock system reform, the listing on the NEEQ and the IPO on the Growth Enterprise Market, and has provided all-around legal services in every stage of its growth.

Flagchem issued 18.35 million shares in the IPO, of which 18.35 million new shares were issued at CNY 22.29 per share. The new shares raised CNY 409 million and the old shares transferred at CNY 0, with the total share capital after the issuance amounting to 73.35 million shares.

As early as October 27, 2014, Flagchem was listed on NEEQ with the abbreviation of ‘Jiangsu Flag’. On February 15, 2015, the Company’s application for IPO and Listing on the Growth Enterprise Market was accepted by the China Securities Regulatory Commission and approved by the Growth Enterprise Market Public Offering Review Committee of the CSRC on August 19, 2016.

Jiangsu Flag Chemical Industry Co. Ltd. (Jiangsu Flag) is a national high-tech enterprise registered in Nanjing Chemical Industrial Park and a designated national pesticide manufacturer. Its primary business includes the development, production, and sale of pesticides and intermediates. Their products mainly include herbicides and insecticides to use in agriculture.

So far, Jiangsu Flag has established long-term business cooperation relationships with Dow AgroSciences, Bayer CropScience, Syngenta, BASF of the first group in the world’s agrochemical industry, FMC, Cheminova, UPL of the second group, Anhui Fengle, Changqing Agrochemical, Lier Chemical, Zhejiang Yongnong Company and other well-known agrochemical enterprises in China, with business covering all major areas of the ecological chain in the pesticide industry. The Company is committed to the development, production, and international and domestic sales of new high-efficiency, environmental-friendly, low-toxicity, and low-residue pesticides under the guidance of the philosophy of ‘Green Technology Leading Sustainable Development’. As a listed company on the GEM, Jiangsu Flag will surely become a leading agrochemical enterprise with international competitiveness and influence.