Baimtec Material raises USD991m on Star Market listing

Jia Yuan Law Offices and DeHeng Law Offices advised on high-tech firm Baimtec Material’s IPO on the Star Market, which raised RMB7.11 billion (USD991.14 million) from the listing of 90 million A shares.

Founding partner Yan Yu, senior partners Huang Guobao and Lai Yi led the Jia Yuan team, advising Baimtec Material.

Main underwriter CITIC Securities enlisted the services of DeHeng, led by chief global partner Wang Li and partner Yang Xinwei.

Baimtec Material, whose parent company is the AVIC Beijing Institute of Aeronautical Materials, was set up in 2000.

Baimtec Material manufactures and distributes aviation and aerospace parts and materials. It produces titanium alloy castings, rubber and seals, transparent parts, superalloy master alloys, and more for ships, weapons, electronics, nuclear, railways, bridges, and other sectors. It is regarded as the backbone of the new materials industry in the space sector and has 139 patents.