Additional Shares of Wanxiang Qianchao Co., Ltd. were Recognized in the Market

Resource from: CBCC Likes:2893

Apr 28,2010

Recently, the work of additional shares of Wanxiang Qianchao Co., Ltd. has been successfully completed. The distribution price of the additional shares was 9.29 yuan per share; the company distributed 200 million shares of RMB common share and total raised 1.858 billion RMB. The net capital was 1.822 billion RMB after deducting the distribution charges. On Jan. 18th , the additional shares of Wanxiang Qianchao was checked by China Securities Regulatory Commission Public Offering Review Committee and passed the verification; on Mar. 8th, the company received the approval paper for distribution. During only three months, the additional shares project of Wanxiang Qianchao has been recognized in the market. As the initiator and actual controller of Wanxiang Group, Lu Guanqiu, the Chairman of the board of directors has acted as a role model on behalf of the new and old shareholders, participated in the bailouts in full and the over share subscription. Totally subscribed 11.3 million shares and amounted to 105 million RMB. As the active subscription of the shareholders, finally the actual distribution rate on the internet was 3%. Lu Guan Qiu actually obtained 754,300 shares (in which 427,800 shares are from the bailouts). Since the company was listed, it has totally financed four times in the securities market and raised 830 million RMB totally. And the raised 1.858 billion RMB this time has exceeded two times of the other financing activities before. The net capital of the company has doubled, which provides sufficient capital guarantee for the development of the company.

(CBCC)

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