Zhong Lun advised Shenzhen Rainbow Fine Chemical Industry Co., Ltd（Rainbow Fine Chemical, 002256.SZ）on its recent initial public offering and listing of shares on the Shenzhen Stock Exchange. The legal team included partners Jack Lai, Limin Chen and Richard Zou, of counsel Hui Yang and associate Jinglei Feng. Guosen Securities acted as the sponsor and leading underwriter of the offering.
Rainbow Fine Chemical issued a total of 22 million shares at the subscription price of RMB12.56 per share, with P/E ratio at 29.21 times, raising a total fund of RMB276 million. The closing price of Rainbow Fine Chemical’s shares on the first trading day was RMB16.60, indicating the investors’ recognition of the shares’ value.