Jia Yuan Law Offices advised AVIC Chengdu UAS on an RMB4.37 billion (USD649 million) IPO on the Star Market of the SSE, surpassing the initial target of RMB1.64 billion.
China Securities and AVIC Securities are the sponsors.
Jia Yuan’s team was led by founding partner Yan Yu, senior partner Yi Jiansheng, partners Lv Dandan, Wu Jingqian and Yan Siyu.
The company’s unmanned aerial vehicle series named Wing Loong ranks second in terms of global market share and is the main model for China’s military UAV exports.
Its major competitors include General Atomic Aeronautical Systems, Northrop Grumman, Israel Aerospace Industries, Turkish Aerospace Industries and Baykar Makina.
The issuer’s parent company is AVIC Chengdu UAS, a subsidiary of the Aviation Industry Corporation of China and ultimately controlled by the State-owned Assets Supervision and Administration Commission.
