NANYA NEW MATERIAL (688519.SH): plans H-share offering and HKEX listing, details not yet fixed, control unchanged
NewTimeSpace News:Nanya New Material Technology Co.,Ltd.(688519.SH) released an announcement advising that the Company is planning an overseas offering of shares (H shares) and a listing on The Stock Exchange of Hong Kong Limited, in order to deepen its global strategic layout, enhance its overall competitiveness and international influence and diversify its financing channels. As at the date of the announcement, the Company is discussing the relevant work with professional advisers, and the relevant details have not yet been determined. The H-share offering and listing will not result in a change in the Company's controlling shareholder and de facto controller.
According to the announcement, pursuant to the Company Law of the People's Republic of China, the Securities Law of the People's Republic of China, the Rules Governing the Listing of Stocks on the STAR Market of the Shanghai Stock Exchange, the Trial Administrative Measures for Overseas Securities Offering and Listing by Domestic Companies, the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and other applicable laws, regulations and regulatory documents, the H-share offering and listing will, after the specific plan is determined, still be subject to consideration and approval by the Board and the shareholders' meeting, and to filing, approval or clearance by the China Securities Regulatory Commission, The Stock Exchange of Hong Kong Limited, the Securities and Futures Commission of Hong Kong and other regulatory authorities.
The Company cautioned that there is considerable uncertainty as to whether the H-share offering and listing will pass the consideration, filing and review procedures and ultimately be implemented. The Company will discharge its information disclosure obligations in a timely manner based on the subsequent progress of the offering in accordance with applicable laws, regulations and regulatory documents, so as to effectively safeguard the lawful rights and interests of the Company and all its shareholders, and advises investors to follow subsequent announcements and note the investment risks.
