Zoomlion Heavy Industry Science and Technology Co., Ltd. (01157) said the company has conditionally agreed to allot and issue 193.76 million subscription shares at the subscription price of HK$5.863 per subscription share to the subscriber.
The subscription shares represent approximately 12.25% of the number of H shares and 2.39% of the total number of shares in issue as enlarged. The subscription price represents a discount of approximately 16.84% to the closing price of HK$7.05 per H share on 29 September 2020.
The gross proceeds will amount to approximately HK$11.36 billion. The company intends to apply the net proceeds for working capital and other general corporate purposes such as exploring overseas markets, establishing overseas base, and importing and procuring core parts and components.
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