On July 17, Farasis Energy was officially listed on the Science and Technology Board of the Shanghai Stock Exchange (SSE STAR Market, ticker: 688567). The funds raised from this listing were about RMB 3.4 billion yuan and the market capitalization of Farasis was approximately RMB30 billion ($4.2 billion).
Katten provided comprehensive legal services to Farasis Energy (Gan Zhou) Co., Ltd (Farasis Energy) as international counsel, including the reorganization of the group before the listing, the listing on SSE STAR Market and its long-term strategic cooperation with Daimler.
Farasis Energy (Gan Zhou) Co., Ltd (Farasis Energy, ticker: 688567) is a leading enterprise mainly engaged in the development, production and sales of lithium-ion power batteries and vehicle battery systems for new energy vehicles. Having mastered the core technologies in the field of ternary soft-pack power battery, Farasis Energy has a long history of strategic cooperation with well-known worldwide institutions, enterprises and experts in the lithium-ion power battery industry. The performances of its products are at forefront of the industry. Its main customers include Daimler and well-known Chinese enterprises such as BAIC Group, Guangzhou Automobile Group Co., Ltd and Great Wall Motor Company Limited.
At the same time, Daimler is carrying out in-depth cooperation with Farasis Energy, which includes purchasing Farasis Energy’s stocks, developing and industrializing high-tech cell technology together, and establishing a long-term supply relationship.
The Katten team includes partners Lijie Han, Feng Xue, Benzion Westreich and Michael Hobel, with associates Shichao Zhang and Maggie Lou, on corporate matters; and partners Terence Ross, Jan Tamulewicz, Christopher Ferenc and Leonard Ferber, with associates Matthew Holub and Jillian Schurr, and China legal consultant Jason Zhang on technology and IP matters.