[ET Net News Agency, 19 March 2018] Jiangsu Innovative Ecological New Materials (02116)
said it plans to do share offer of a total of 120 million shares, comprising 108 million
placing shares (subject to reallocation and over-allotment option) and 12 million public
offer shares (subject to reallocation), at an offer price of between HK$1 and HK$1.25 per
share, raising HK$120 million to HK$150 million.
The public offer began today, and closes at noon on 22 March. The final offer price and
the allotment results will be announced on 27 March. The trading of the shares of Jiangsu
Innovative on the main board is expected to begin on 28 March.
Orient Capital (Hong Kong) is sole sponsor to the listing. Orient Securities (Hong Kong)
and Guotai Junan Securities (Hong Kong) are joint coordinators, joint bookrunners and
joint lead managers. The net proceeds from the share offer, after deducting underwriting
fees and estimated total expenses, based on the offer price of HK$1.13 per share (being
the midpoint of the indicative offer price range) are estimated to be HK$105.5 million.
(KL)