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Sinochem News.
com.
cn on June 8, Lomon Baili announced that it plans to issue overseas listed foreign shares (H shares) for an initial public offering and apply for listing on the main board of the Hong Kong Stock Exchange
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The shares issued this time are ordinary shares, denominated in Renminbi with a face value, and subscribed in foreign currencies, with a face value of 1 yuan per share
Lomon Baili stated that the number of H shares issued this time will not exceed 25% of the company's total share capital after the issuance (before the execution of the over-allotment right), and it will grant the lead underwriters an excess of not more than 15% of the initial issued number of H shares.
Placing rights
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The final issuance quantity is determined by the board of directors authorized by the general meeting of shareholders and persons authorized by the board of directors in accordance with relevant laws and regulations, exchange rules, regulatory approvals and market conditions
In order to complete the issuance and listing, the company intends to establish a business address in Hong Kong, and apply to the Hong Kong Companies Registry to register as a non-Hong Kong company in accordance with the provisions of the Hong Kong Companies Ordinance to confirm that it is a non-Hong Kong company authorized person
After deducting the issuance expenses, the funds raised from the company’s issuance and listing will all be used for the following matters of the company and its subsidiaries, including expansion of operation scale, project investment and construction, information technology system and platform construction, mergers and acquisitions, research and development , to repay bank loans and supplement working capital, improve capital structure