GCL-Poly Energy announced the completion of a HK$5 billion new share placement. The Shell Finance reporter was informed that the Hongshang Group under the “hidden business” under Yong Yong participated in the placement and subscribed for 595 million shares.
On December 22, GCL-Poly Energy (3800.HK) announced that the placement has been completed, with a total of 2.037 billion shares (equivalent to approximately 7.52% of the total issued share capital of GCL-Poly Energy after the allotment and issuance of placement shares has expanded. ) Has been placed to no less than six placees. The net proceeds from the placing are expected to be HK$4.994 billion.
It is reported that HK$1.976 billion of the proceeds from the placement will be used for Inner Mongolia silane fluidized bed granular silicon and supporting silicon powder projects, and 2.573 billion Hong Kong dollars will be used for silane fluidized bed granular silicon from Jiangsu Zhongneng Silicon Technology Development Co., Ltd. project.
Earlier on the morning of December 15th, GCL-Poly Energy (3800.HK) issued an announcement on the placement of new shares. The placing price was HK$2.49, which was a 2.4% discount to the closing price of HK$2.55 on December 14.
The Shell Finance reporter was informed that the “hidden businessman” Yu Yong and his Hongshang Group also participated in the new share placement of GCL-Poly Energy.
The Hong Kong Stock Exchange revealed that Yu Yong/Hongshang Industrial Holdings Group Co., Ltd. (“Hongshang Group”) bought 595 million GCL-Poly Energy shares at an average consideration of HK$2.49 per share. After the increase in holdings, Yu Yong’s total shares in GCL-Poly Energy increased from 1.187 billion shares to 1.782 billion shares, and the shareholding ratio rose from 4.73% to 6.57%.
(Source: Hong Kong Stock Exchange)
According to the Hong Kong Stock Exchange, the event related to Yu Yong’s increase in holdings was the new share placement announced by GCL-Poly Energy on December 15. According to calculations, the shares purchased by Yu Yong this time cost a total of HK$1.482 billion, and the new shares accounted for 29.21% of the total number of shares placed by GCL-Poly Energy.
Hongshang Group is a large domestic private investment group, and the actual controller is Yu Yong, known as the “Hidden Merchant”. In recent years, with its successful investment in Luoyang Molybdenum (603993.SH), Hongshang Group has risen rapidly. It claims to maximize the value of investment through flexible equity investment, open market investment, mergers and acquisitions and other investment methods.
Hongshang Group’s latest financial report revealed that in the first three quarters of this year, it achieved a total operating income of 126.711 billion yuan and a net profit of 9.527 billion yuan attributable to the parent. As of the end of the third quarter, Hongshang Group’s assets totaled 194.938 billion yuan, and total liabilities totaled 112 billion yuan.
Regarding the placement of GCL-Poly Energy, there have been rumors in the market that Hillhouse Capital will also participate. As of December 23, the Shell Finance reporter has not inquired about the relevant rights and interests change records through the Hong Kong Stock Exchange. On December 16, the reporter sent an email to GCL-Poly Energy to verify whether Hillhouse Capital’s participation in the allotment is true, and has not received a reply yet.
Beijing News Shell Finance reporter Zhu Yueyi, editor Song Yuting, proofreading Chen Diyan
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