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China Suntien Green Energy Corp Ltd announces placing of H shares


Tuesday, 21 Jan 2014 05:44pm EST 

China Suntien Green Energy Corp Ltd:Says that on Jan. 21, the company entered into the placing agreement with the placing agents in relation to the placing, on a fully underwritten basis, of 476,725,396 H shares at the placing price of HK$3.35 per H share.Says the placing shares are 476,725,396 new H Shares to be allotted and issued by the company with an aggregate nominal value of 476,725,396 yuan.Says the placing shares represent 34.99 pct and 14.72 pct, respectively, of the existing issued H share capital and the total issued share capital of the company as at the date of this announcement.Says and 25.92 pct and 12.83 pct, respectively, of the issued H share capital and the total issued share capital of the company as enlarged by the issue of the placing shares.Says the net proceeds from the placing will be about HK$1,564,044,356 after deducting the commission and expenses of the placing.Says it intends to use the net proceeds from the placing to fund the investment in the company’s wind farms and the development of the company's natural gas businesses in the PRC.Says it also intends to use the net proceeds to replenish the company’s working capital, to ensure the company’s continuous growth. 

Company Quote

1.6
-0.01 -0.62%
19 Dec 2014