On the morning of the 26th, Guoxuan Hi-Tech released an announcement on the issuance results of Global Depositary Receipts (hereinafter referred to as “GDR”), with a total fundraising of about 700 million US dollars, which is the largest GDR project since the implementation of the China-Europe Connect Rules.
According to the company’s announcement, the first batch of Swiss GDR Guoxuan Hi-Tech has been issued yesterday, and the final price of this issuance has been determined to be US$30 per GDR. The number of GDRs issued this time is 22.83 million, and the underlying securities represented by A-shares are 114 million shares, with an issuance scale of nearly US$700 million. It is expected to be officially listed on the SIX Swiss Exchange on July 28. Shares closed at a discount of just 3.5%.
Since the approval of the board of directors on April 29, Guoxuan Hi-Tech has efficiently completed the domestic and overseas regulatory approval and issuance within only 3 months. According to people familiar with the matter, the order volume of this issuance exceeds 800 million US dollars. Judging from the existing total fundraising scale, it is the GDR project with the largest basic issuance scale since the implementation of the China-Europe Connect Rules, and the largest new energy industry in the Swiss market in history. The equity financing project is the largest equity financing project issued in the Swiss market this year, and it is also the equity financing project with the lowest discount for A-share listed companies in the new energy industry since 2018.
According to the company’s prospectus, the GDR issuance and listing will help enhance the company’s international image and help increase the global market share of its products. At the same time, it is hoped that through this issuance of GDRs, high-quality investors will be introduced on a global scale, the composition of shareholders will be enriched, and corporate governance will continue to be improved, so as to be confident in realizing the strategic purpose and original intention of this issuance.Return to Sohu, see more
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