On June 13, 2023, the IPO application and listing project of Zhejiang KAYO Motor Co., Ltd. (浙江华洋赛车股份有限公司) (hereinafter referred to as “KAYO Motor”) was reviewed and approved by the 29th meeting of the Listing Committee of the Beijing Stock Exchange (北交所) in 2023 without any comments.
JT&N acted as issuer’s counsel for the project. With senior partners Cheng WANG and Yinhong LIU as project leaders, the project team members included Yilin WANG, et al. JT&N provided KAYO Motor’s IPO project on the Beijing Stock Exchange with professional, efficient, and high-quality all-round legal services in accordance with industry-recognized business standards, ethical standards, and spirit of diligence, which was highly appreciated by the company and other intermediaries.
The proposed public offering of shares of KAYO Motor was less than 14 million shares (excluding the over-allotment option), and the company and the lead underwriters exercised the over-allotment option at an appropriate time based on the specific circumstances of the offering. The number of shares issued under the over-allotment option did not exceed 15% of the number of shares issued. It is planned to raise CNY 480,823,200, which will be mainly used to invest in sports motorcycle intelligent manufacturing projects, R&D center construction project, and supplement working capital. Founded in 2004, KAYO Motor is a high-tech company specializing in independent R&D, production, and sales of off-road vehicles. It is a leader in the field of off-road vehicles and one of the representative brands of sports motorcycles in China. At present, the company’s products mainly include two-wheeled off-road motorcycles and all-terrain vehicles with a displacement of 50-300cc, which are mainly used for sports competitions in such scenes as professional venues and mountain roads and forests, recreation, and entertainment in the countryside, parks, home yards, outdoor special operations, and other fields.
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