On August 14, 2019 EST in the USA, China Xiangtai Food Co., Ltd. and its subsidiaries Chongqing Penglin Food Co., Ltd. and Guangan Yongpeng Food Co., Ltd. (the “Company”), represented by ABL Lawyers, started trading on the Nasdaq Capital Market (“Nasdaq”) in the USA under the ticker symbol “PLIN.”
The Company previously announced the closing of its initial public offering (“IPO”) on May 10, 2019. The Company’s listing was reviewed by Nasdaq and the Company made modifications after the IPO announcement in accordance with the new listing rules of Nasdaq. The Company subsequently passed the Nasdaq review and became one of the first companies to successfully list after the new Nasdaq listing rules came into effect.
The Company issued 1,172,360 ordinary shares to the public at a price of $5.00 per share and raised nearly US$6 million in this IPO.
The AllBright legal team, led by senior partner Steve Zhu and included partner Joy Huang, partner Frank Xu and associate Ken Lin, served as the legal counsels to the Company on its IPO and Nasdaq listing and advised on PRC legal matters.