<ET Net News Agency, 21 July 2011> China National Building Materials (CNBM, 03323) said
it proposes to allot and issue not more than 1 billion A shares to be listed on the
Shanghai Stock Exchange.
Based on yesterday's closing price of HK$16.44 apiece, the estimated proceeds from the
issuance would be over Rmb16 billion. The shares to be issued represent not exceeding
about 18.52% of the existing total issued share capital and not exceeding about 15.63% of
the total issued share capital of CNBM.
The total amount of capital raised from the A-share issuance will be used as to about
Rmb8 billion for acquisition, investment in fixed assets and alteration of information
system and as to about Rmb7 billion for repayment of bank loans and replenishment of cash
flow.
The proposed A share issue is subject to approval by shareholders at the EGM, the class
meetings of the H shareholders and the domestic shareholders and the approval of the CSRC,
and other regulatory authorities.
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