[ET Net News Agency, 24 April 2017] Yangzhou Guangling District Taihe Rural
Micro-finance (08252) plans a Hong Kong public offer of a total of 150 million H shares at
an indicative offer price range between HK$1.20 and HK$1.34 per share, with total proceeds
range between HK$180mm and HK$201 million.
The net proceeds are estimated to be HK$150.3 million.
Taihe is dedicated to serving SMEs, micro-enterprises and individual proprietors in
Yangzhou City, by offering flexible, accessible and efficient micro and small loan
services aiming to best match customers' interim business financing needs.
The public offer starts today and ends on 27 April. The final offer price and the
results of the allocation are expected to be announced on 5 May. Dealing of the shares is
expected to begin on 8 May on GEM board of stock exchange.
China Galaxy International Securities (Hong Kong) is sole sponsor of listing.
Taihe Micro-finance intends to use 90% of net proceeds of the offer for expanding the
loan portfolio for micro and small loan business; and the remaining 10% for working
capital and other general corporate purposes. (KL)