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    Home > Chemicals Industry > China Chemical > The issue price of Oriental Shenghong GDR is confirmed

    The issue price of Oriental Shenghong GDR is confirmed

    • Last Update: 2023-02-02
    • Source: Internet
    • Author: User
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    On December 22, Oriental Shenghong announced that the company is applying to issue Global Depositary Receipts (hereinafter referred to as GDR) and list on
    the Swiss Stock Exchange.
    At present, Oriental Shenghong has determined that the final price of this offering is US$18.
    05 per GDR, the number of GDRs in this offering is 39.
    794 million, representing 398 million shares of the underlying securities A shares, and the total amount of funds raised is approximately US$718 million

    It is reported that Oriental Shenghong began to prepare for the GDR issuance in August this year, and after nearly four months of efforts, finally completed the bookkeeping and issuance pricing
    of the GDR in the Swiss market on December 22.
    In accordance with the relevant rules of the SIX Swiss Exchange and international market practice, Rainbow expects that the GDR of this offering will be officially listed
    on the SIX Swiss Exchange on about December 28, 2022 (Swiss time).

    Dongfang Shenghong said that after the successful listing of GDR in Switzerland, on the one hand, it will add new momentum to the company's international development; On the other hand, it means that the internationalization of corporate financing channels and the internationalization of investors have made breakthroughs
    After deducting the issuance expenses, the proceeds raised from this GDR will be mainly considered to be used to expand the production capacity of new energy and new materials or to build new product production capacity; Develop vertically integrated refining capabilities, including support for the procurement of upstream raw materials from global markets; Seek potential investment, M&A opportunities and develop management and marketing networks beyond Chinese mainland; Invest in research to enhance product development technology capabilities; and for working capital and other general corporate purposes

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