VMAX raises USD277m in Star Market listing

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VMAX Star Market listing
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DeHeng Law Offices has advised power electronics company Shenzhen VMAX New Energy on its Star Market IPO, raising RMB1.99 billion (USD277.24 million) from 42.1 million A shares.

Partners Liu Zhenguo, Tang Yongsheng and Han Xue led the DeHeng team advising Shenzhen VMAX. Orient Securities is the transaction sponsor and main underwriter.

VMAX develops, produces and sells power electronics and power transmission products for new energy cars, such as charging equipment, vehicle-mounted DC/DC converters, etc. It has been granted 301 patents since last year.

It is the key supplier of emerging car companies such as XPeng Motors and Leapmotor, and domestic and international names including SAIC Motor, Chery Automobile and Stellantis.

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