Carey Olsen, Zhong Lun in Smarter Micro’s STAR Market IPO

Zhong Lun Law firm and Carey Olsen advised Smarter Micro

China’s Zhong Lun Law Firm and Carey Olsen advised Chinese chip design company Smarter Micro’s IPO on the Shanghai Stock Exchange STAR Market on 16 May, raising RMB1.5 billion (USD209 million).

Carey Olsen’s Singapore corporate team advised Smarter Micro on the Cayman Islands legal aspects of its IPO, as well as on the pre-IPO restructuring, due diligence on the ownership and historical share transactions of the company, alignment and satisfaction of requirements from the China Securities Regulatory Commission.

Anthony McKenzie, the managing partner of Carey Olsen’s Singapore office, led the team with the support of counsel Susan McKinstray and associates Maggie Yan and Eng How Cheow.

Zhong Lun did not disclose details of its role in the listing.

“Established in 2019, the Shanghai-based STAR Market has quickly become a pre-eminent capital market for Asian tech-focused companies,” said McKenzie.

Founded in 2011, Smarter Micro provides radio frequency front-end chips for smartphones, the internet of things, and other fields for various clients including Samsung, OPPO, Vivo, and other major smartphone manufacturers.

Smarter Micro intends to use the funds raised to build a chip testing centre, its global headquarters and a research and development centre.