After Guoxuan Hi-Tech (002074) and Shanshan shares (600884), another listed company in the lithium industry chain plans to issue GDR in Switzerland and applies to be listed on the Swiss Stock Exchange (SIX Swiss Exchange).
On April 8th, Koda Manufacturing (600499) announced that considering the actual situation and business development plans of the company, the company plans to terminate the non-public offering of A shares in 2022 and apply for overseas issuance of Global Depositary receipts (Global Depository Receipts,GDR) and listing on the Swiss Stock Exchange.
The announcement shows that this time, Koda Manufacturing will use the newly issued A shares as the basic securities and issue GDR through international issues. the new basic securities A shares represented by this GDR will not exceed 100000000 shares, and will not exceed 5.30% of the company's total common share capital before this offering, and will be issued to qualified international investors and other investors who meet the relevant regulations. The specific issuance time, the final issuance quantity, the conversion rate and the issue price of A shares between GDR and basic securities will be determined in the follow-up in accordance with legal provisions, regulatory approval and market conditions.
Battery Network noted that on March 31, Koda Manufacturing disclosed a pre-plan for a non-public offering of A shares in 2022, and the company proposed to raise no more than RMB 2.079 billion yuan (including capital) for the total amount of additional issuance (including issuance expenses). After deducting the issuance expenses, the net funds raised will be used for the intelligent manufacturing base project of building materials and lithium electricity equipment (866 million yuan), the large-scale high-end intelligent equipment manufacturing digital factory project (800 million yuan), and the technical transformation project of the global advanced manufacturing center of building materials machinery (88.5887 million yuan). Supplementary liquidity (624 million yuan).
Huaxin Securities said in the research report that for Koda Manufacturing, the fixed increase will be changed to overseas GDR financing, which will be improved in several aspects: equity dilution will be reduced (the GDR issue price will not be less than 90% of the 20-day average price of the pricing benchmark, but it will increase to 80%, and the number of new shares will be reduced under the same financing scale); broaden the financing channels, through the issuance of GDR, you can raise overseas funds Improving the shareholder structure, through direct contact with the Swiss capital market, can attract long-term overseas investors and improve the company's shareholder structure.
In addition to Koda manufacturing, last month, Guoxuan Hi-Tech and Shanshan shares, a listed company in the lithium industry chain, also announced that they planned to list in Switzerland: on March 16, Guoxuan Hi-Tech announced that in order to speed up the company's international strategic layout and meet the capital needs for overseas business development, the company plans to issue global depositary receipts overseas and list on the Swiss stock exchange. On March 19, Shanshan Co., Ltd. announced that in order to expand the company's international financing channels and meet the needs of the company's business development at home and abroad, the company plans to issue global depositary receipts overseas and list on the Swiss Stock Exchange.
In addition, Koda Manufacturing also disclosed a forecast of first-quarter results a few days ago. In the first quarter of 2022, the company is expected to achieve an increase of about 709 million yuan in net profit belonging to shareholders of listed companies, an increase of about 371.91 percent over the same period last year.
Koda Manufacturing said that the increase in performance in the first quarter of 2022 was mainly due to the continued expansion of the company's building materials machinery business, increased production of building ceramic products in Africa compared with the same period last year, and steady development of its major businesses. In addition, due to the rise in the market price of lithium carbonate products, the net profit of Qinghai Salt Lake Lanke Lithium Industry Co., Ltd. has increased significantly compared with the same period last year, and the investment income recognized by the company has also increased significantly compared with the same period last year.
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