Zhejiang Yongtai Technology Co Ltd Receipt of the Proceeds (7862F)
12 Luglio 2023 - 10:16AM
UK Regulatory
TIDMYTT
RNS Number : 7862F
Zhejiang Yongtai Technology Co Ltd
12 July 2023
ZHEJIANG YONGTAI TECHNOLOGY CO., LTD.
(GDR under the symbol: "YYT")
(a joint stock company established under the laws of the
People's Republic of China with limited liability)
Announcement on Receipt of the Proceeds Raised from the Issuance
of Global Depositary Receipts
The Company and all the members of the Board of Directors
confirm that all the information contained in this information
disclosure is true, accurate and complete and that there is no
false and misleading statement or material omission in this
information disclosure.
As approved by China Securities Regulatory Commission and UK
Financial Conduct Authority, the Global Depositary Receipts
(hereinafter referred to as the "GDRs") issued by Zhejiang Yongtai
Technology Co., Ltd. (hereinafter referred to as the "Company")
were listed on the London Stock Exchange on 11 July 2023 (London
time) (hereinafter referred to as the "Issuance"), the full name of
the GDR securities: ZHEJIANG YONGTAI TECHNOLOGY CO., LTD.; the
listing code of the GDRs: YTT.
After deducting the issuance costs, approximately 70% of the
proceeds raised from the Issuance will be used to strengthen the
Company's global industrial chain layout of its core business areas
of new energy materials, pharmaceuticals and crop science, and to
enhance its product research and development, manufacturing and
sales capabilities; and approximately 30% of the proceeds will be
used for repayment of the Company's debts and replenishment of
working capital. The aforesaid use of proceeds and plans are
subject to that disclosed in the prospectus of the Issuance, and
the specific use of proceeds raised may be subject to changes in
line with applicable regulations and the Company's business
strategy in light of the Company's business needs, the regulatory
environment and the actual market conditions.
The issue price of the GDRs was US$9.41 per GDR, and the total
number of GDRs under the Issuance was 7,438,900, of which each GDR
represented 5 A shares of the Company, the corresponding underlying
securities were 37,194,500 A shares of the Company, and the total
amount of proceeds raised from the Issuance was approximately US$70
million. As of today, the proceeds raised from the Issuance have
been received, and the actual amount of proceeds received after
deduction of underwriting fees is approximately US$69.16
million.
The Company will fulfil its information disclosure obligations
in a timely manner based on the relevant progress, and investors
are advised to pay attention to the investment risks.
Board of Directors
Zhejiang Yongtai Technology Co., Ltd.
12 July 2023
Corporate Information
Zhejiang Yongtai Technology Co., Ltd. is a joint stock company
with limited liability established in the People's Republic of
China pursuant to the Company Law of the People's Republic of China
.
The Company's registered office is located at No. 1 Donghai
Fifth Avenue, Linhai Park, Zhejiang Chemical API Base, Zhejiang
Province, China.
For further information, please visit the website of the Company
at http://www.yongtaitech.com, or contact +86 0576-85588006.
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END
MSCEAPXAFFDDEEA
(END) Dow Jones Newswires
July 12, 2023 04:16 ET (08:16 GMT)
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