Shulou(Shulou.com)11/24 Report--

CTOnews.com October 5 news, today, Sinovel announced the results of the allotment, the global offering of about 265 million H shares, of which Hong Kong offering accounted for 1%, international offering accounted for 99%, the offering price has been determined at HK $38 per offer share.

▲ Picture Source: innovation Airlines expects H shares to be traded on the main board of the Stock Exchange at 09:00 (Hong Kong time) on Thursday, October 6, 2022. H shares will be bought and sold on the basis of 100 H shares per lot. The H-share code is 3931.

At present, the over-allotment option of Sinovel has not been exercised. Based on the offer price of HK $38 per offer share, the net proceeds received by Sinovel from the global offering are estimated to be about HK $9.8639 billion (about 8.897 billion yuan, assuming the over-allotment option has not been exercised).

If the over-allotment option is exercised, Sinovel will receive an additional net income of approximately HK $1.3887 billion (approximately RMB 1.253 billion) in respect of the 37218200 additional offer shares to be issued and allotted as a result of the exercise of the over-allotment option.

CTOnews.com learned that Sinotrans said it intends to use the net proceeds for the following purposes:

About 7.8911 billion Hong Kong dollars (about 7.118 billion yuan) will be used to cover part of the company's expenditure on the construction of 95GWh power battery and energy storage system production lines in Chengdu Phase I Project, Wuhan Phase II Project, Hefei Phase I Project, Guangdong Jiangmen Phase I Project and Meishan Project in Sichuan Province.

About 986.4 million Hong Kong dollars (about 890 million yuan) will be used for advanced technology research and development to maintain the company's leading position in battery and its production process.

About 986.4 million Hong Kong dollars (about 890 million yuan) will be used for working capital and general corporate purposes.

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