Venture(US:VEMLY) Shang Hai Zheng Quan Bao·2025-12-03 18:57Core Viewpoint - Shenzhen Tian Su Measurement and Testing Co., Ltd. is conducting an initial public offering (IPO) and listing on the ChiNext board, following various regulatory guidelines and rules set by the China Securities Regulatory Commission and the Shenzhen Stock Exchange [1][2][3]. Group 1: IPO Process - The IPO will be organized by the sponsor (lead underwriter), China Merchants Securities Co., Ltd., and will involve a combination of strategic placement, offline inquiry, and online issuance [2][3]. - The strategic placement will include participation from the company's senior management and core employees, as well as potential investments from related subsidiaries of the sponsor [3][4]. - The offline inquiry will take place on December 9, 2025, allowing qualified institutional investors to submit their proposed purchase prices and quantities through the Shenzhen Stock Exchange's electronic platform [5][6]. Group 2: Investor Participation - Only qualified institutional investors, such as registered securities companies, fund management companies, and insurance companies, are eligible to participate in the offline inquiry and allocation [5][7]. - Each participating investor can submit up to three different quotes, with the highest quote not exceeding 120% of the lowest quote [6][7]. - The minimum purchase quantity for each allocation object is set at 1 million shares, with increments of 100,000 shares thereafter [6][7].