Keda Industrial Group Co.Ltd(600499) ( Keda Industrial Group Co.Ltd(600499) ) announced on April 7 that the company plans to terminate the fixed increase in 2022 and apply for overseas issuance of global depository receipts (GDR) and listing on the Swiss stock exchange.
announced that the company will issue GDR through international issuance with newly issued A-Shares as the basic securities. The newly issued A-Shares of basic securities represented by GDR this time will not exceed 100 million shares, and will not exceed 5.30% of the total share capital of the company’s common shares before this issuance
termination of A-share fixed increase transit financing in Switzerland
According to the retrospective announcement, on March 31, Keda Industrial Group Co.Ltd(600499) disclosed that it planned to raise no more than 2.079 billion yuan to invest in building materials and lithium battery equipment intelligent manufacturing base project, large-scale high-end intelligent equipment manufacturing digital factory project, global building materials machinery advanced manufacturing center technological transformation project and supplementary working capital respectively.
Through this non-public offering project, the company plans to apply kiln equipment to lithium battery material industry. At the same time, the lithium battery materials business segment is one of the three business segments of Kodak, which can form a strategic synergy with it and improve the position of the enterprise in the industrial chain.
Only one week later, the fixed increase plan was terminated. What kind of turning point happened during this period?
Keda Industrial Group Co.Ltd(600499) announced that the chairman of the company and the shareholder holding 5.23% of the company’s shares submitted a letter to the board of directors of the company to add a proposal on the issue of global depositary receipts and the application for listing on the Swiss stock exchange to the agenda of the company’s 2021 annual general meeting.
According to the above temporary proposal of Bian Cheng, taking into account the actual situation and business development plan of the company, the company plans to terminate the fixed increase in 2022 and plan to issue GDR and list on the Swiss stock exchange.
Keda Industrial Group Co.Ltd(600499) announcement said that after deducting the issuance expenses, the funds raised by the company to issue GDR will be used to expand its main business and strategic investment business, promote global layout and supplement the company’s working capital.
company believes that different from the fixed increase in a shares, the issuance of GDR will face global investors and can effectively promote Kodak’s global layout. By the end of 2021, Keda Industrial Group Co.Ltd(600499) overseas revenue was 4.116 billion yuan, accounting for 47% of the overall revenue
Keda Industrial Group Co.Ltd(600499) 2021 reported that thanks to the layout and cultivation of the company’s “globalization” strategy, the overseas market maintained a strong development momentum, emerging markets and blank markets repeatedly achieved breakthroughs, and the company also created a new development situation in the European high-end market. During the reporting period, the company’s overseas ceramic machine business received orders and delivered more goods than the same period last year, and the performance of markets such as India, Africa and Turkey maintained an increase over the same period last year
manufacturing leading enterprises catch up with the tide GDR
Previously, the CSRC issued the regulations on the supervision of interconnected depositary receipts business of domestic and foreign stock exchanges, expanding the scope of recognition from the UK to Switzerland and Germany Sany Heavy Industry Co.Ltd(600031) became the first enterprise to disclose its intention to issue GDR overseas after the revision of the rules of Shanghai Luntong.
On March 16, Gotion High-Tech Co.Ltd(002074) , Lepu Medical Technology (Beijing) Co.Ltd(300003) disclosed the Swiss listing plan together. With the announcement of Keda Industrial Group Co.Ltd(600499) , four A-share listed companies have disclosed their plans to issue GDR and list in Switzerland in less than a month.
A number of leading manufacturing enterprises in China scrambled for GDR, which was driven by policies.
On March 16, the financial stability and Development Commission of the State Council held a special meeting to study the current economic situation and capital market problems. Following the response of the central bank and the China Banking and Insurance Regulatory Commission, the CSRC also responded on the afternoon of March 16. Among them, it is clear to speed up the implementation of new regulations on the supervision of overseas listing of enterprises, support all kinds of qualified enterprises to list abroad, and keep the channels of overseas listing unblocked.
In addition, the above four enterprises are the “head assets” of each track in the manufacturing industry, and the internationalization strategy is the key demand of their GDR issuance.
Among them, Sany Heavy Industry Co.Ltd(600031) internationalization strategy is being actively promoted. GDR issuance will help the company further expand overseas markets, especially European and American markets, and improve the share of local markets.
Gotion High-Tech Co.Ltd(002074) as one of the world’s leading power lithium battery manufacturers, the company’s power battery product shipments have increased rapidly in recent years, especially the overseas customers’ order demand for the company’s products has increased significantly, and the company is in the key stage of international strategic layout.
Lepu Medical Technology (Beijing) Co.Ltd(300003) also said in the announcement that it would lay out overseas production bases and practice the company’s international development strategy. The company plans to build production bases in overseas countries or regions, which will help the company shorten the production radius, reduce production costs, better enter the local countries and global markets, and increase the proportion of overseas sales.
A person from a manufacturing enterprise told the reporter of E company that this round of GDR issuance by leading manufacturing enterprises shows the country’s determination to deepen the interconnection of China EU capital markets and use overseas capital markets to promote the development of real economy.
reporters also learned that the first batch of A-share companies that plan to issue GDR and list in Switzerland may be about 10, and will “appear” one after another
