Gome Electrical Appliances For The Hong Kong Dollar 3.236 Billion Financing To R
Finally ushered in the dawn of resumption of trading in Hong Kong yesterday (June 22) afternoon,
States United States Held a news conference, confirmed that the financing package has been approved by the Hong Kong Stock Exchange, thus, the introduction of Bain Capital (BainCapital, LLC) has finally settled the issue.
Yesterday (June 22) announced the final financing package, the state financing of at least 3.236 billion U.S. dollar, including Bain Capital to 1.804 billion Hong Kong dollars subscribed new issue of convertible bonds, and seven by Tony En investment affiliates exclusive underwriter of the public offering of new shares. According to the plan, the country will be the U.S. stock today (June 23) in the Hong Kong Stock Exchange resume trading.
Finalize the financing package Country by the end of in Apr. this year the United States intends to introduce foreign investors after the news spread like wildfire, the United States on the country’s financing options once drew industry speculation. Yesterday (June 22), the final version of the financing package was finally introduced, but the partner will have no doubt that the body fell Bain Capital.
According to the agreement, Bain Capital will be 1.804 billion U.S. new issue dollar Subscription country seven years of convertible bonds, the initial conversion price of 1.18 Hong Kong dollars per share, compared with the last closing price prior to suspension 1.12 Hong Kong dollars per share, a premium 5.4%. In addition, Gome will also available to eligible shareholders on sale for every 100 existing shares to be issued 18 new shares at a subscription price per share of 0.672 Hong Kong dollars.
“If other shareholders do not wish to subscribe, the issue of new shares will be solely responsible for Bain.” Bain Capital Managing Director Zhu Jia-Hong Kong, said it is learned that the sale will be associated with Bain Capital by another company BainCapitalGloryIILimited to be the exclusive underwriter.
Under this program, Bain Capital will hold a stake of the issued share capital of the United States expanded 9.8% to 23.5%, and may nominate three non-executive directors to the board seats only 11. States United States Chairman of the Board, said Chen Xiao, the new convertible bonds issued by public offering with net proceeds are expected to finance at least 3.236 billion Hong Kong dollars.
Into business improvement track November 24 last year after the suspension, announced yesterday, according to Gome, Gome shares will resume trading today at the Hong Kong Stock Exchange. Notice disclosure, Ernst & Young based on the GOME and the transactions of public companies review internal controls and internal audit report, Gome, Gome Board confirmed the company has no assets and funds were misappropriated or occupier of the problem, the company’s financial position healthy.
Rujin in Citibank and UBS stock ratings to countries the U.S. has been transformed into a “buy”, in which UBS target price of 1.57 Hong Kong dollars, compared to 1.12 before the suspension States United States dollar above the 0.45 Hong Kong dollars, and that States United States in 2014 by the convertible bond prices have recovered to 0.88 0.22 HK dollar.
This, Home Appliances Liu Buchen, industry observers interviewed yesterday, pointed out that the financing package be passed smoothly to the country the United States will have at least three implications: First, the Hong Kong dollar 3.236 billion of funds will greatly ease the financial pressure on the country after the United States; Second, the smooth financing by the bank, investors and consumers to re-establish confidence in the country the United States; third country the United States will also promote the optimal management of the country the United States in the next period of time to maintain industry leadership.
“The country shares the U.S. resumption of trading after the price trend, I’m more optimistic.” Liu Buchen, said adjusting the one hand, the country has basically been in place within the U.S., and gradually develop into a new orbit, the other side to improve the external environment is also becoming more U.S. stock prices on the country to play the role of a boost.
In addition, Chen Xiao said, the next country the U.S. will further strengthen the relationship with suppliers to make the country the United States to become suppliers to choose a channel platform.
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