Weihai bank and Naquan energy port stock exchange will list or raise more than 400 million US dollars next month

China-News.Net - Finance October 1, 2020, 2:31 am Yanglin

Source | public account capitalwatch

Weihai bank became the seventh Chinese funded bank listed in Hong Kong

Weihai Commercial Bank (HKEx: 09677) A few days ago, it was officially offered on the Hong Kong stock exchange. 87728000 shares were offered to the public in Hong Kong and 790 million shares were offered to the international market. The bidding price was between $3.35 and $3.51. The IPO is expected to raise up to HK $3.11 billion (US $400 million).

According to the latest financial report disclosed by the bank, as of the end of June 2020, Weihai bank had total assets of RMB 255.094 billion and total liabilities of RMB 236.623 billion; in the first half of 2020, the bank realized a net profit of 926 million yuan.

Weihai bank is expected to list on October 12. According to the prospectus, the Hong Kong stock listing of Weihai bank was jointly sponsored by Huatai international, CICC and CMB international.

Up to now, seven Chinese funded banks have been listed in Hong Kong, including Bank of Gansu (02139), Bank of Jiangxi (01916), Bank of Jiujiang (06196), Bank of Luzhou (01983), Shanxi Commercial Bank (02558), Bank of Guizhou (06199) and Bohai Bank (09668) listed in 2020.

China Energy Technology Co., Ltd A few days ago, it also went through the hearing of the Hong Kong stock exchange. From September 29 to October 8, 2020, the company plans to issue 62.5 million shares, 10% of which are 6.25 million shares for public sale in Hong Kong, 56.25 million shares for international placement, accounting for 90% and 15% over allotment. Hong Kong $2.00-hk $2.60 per share and 1000 shares per hand are expected to be listed on October 20. The maximum amount raised was HK $164 million (US $31.16 million).

The joint global coordinator, joint account book manager and joint lead manager of Naquan energy are Anxin international and Fuqiang securities.

According to frost Sullivan report, based on the sales volume in 2018, Naquan energy ranked the third in China's pitch control system market, with a market share of 10.5%. Based on the sales value in 2018, it ranked fourth in the market with a market share of 7.5%.

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