Heilongjiang Tianyouwei Electronics has raised RMB3.74 billion (USD534 million) in its debut on the main boards in Shanghai, making it the largest IPO in the A-share market so far this year. Zhong Lun Law Firm and DeHeng Law Offices advised the issuer and the underwriters, respectively.
In this transaction, Zhong Lun’s partner Du Wei advised Tianyouwei, while DeHeng partners Sun Yanli and Ma Quan advised the underwriter CITIC Securities.
Tianyouwei issued shares at RMB93.5 apiece, making it the highest-priced new stock in the A-share market this year.
Established in 2003, the company designs, produces and sells auto electronic instruments to major clients including Hyundai Motor Group and BYD. The company has bases in Liuzhou, Wuhan, Mexico and more. During the past three years, net profit has increased from RMB390 million in 2022 to RMB1.14 billion in 2024.
