Rmb1.2bn after its latest round of private
financing led by Shenzhen government-
backed Shenzhen Capital Group last year.
Haitong Securities will be the sponsor.
A SinoVoice staff member who answered
a call from IFR said she had no knowledge
of the matter and declined to transfer the
call to relevant parties.
Cloudwalk and SinoVoice will join another
AI company, voice services provider Beijing
Unisound Information Technology, in listing
on the tech board. Unisound kicked off an
IPO tutorial with CICC last month.
› CHINA SEC’S PLACEMENT UNDER REVIEW
The China Securities Regulatory
Commission has agreed to review a
Rmb13bn private placement offering from
CHINA SECURITIES.
The Hong Kong and Shanghai-listed
company plans to sell up to 1.28bn shares
to fewer than 10 investors.
Proceeds will be used to replenish capital
and as working capital.
The issuer will price the deal on the first
day of the offering.
The securities house posted net profit of
Rmb1.5bn and Rmb3.1bn on revenues of
Rmb3.1bn and Rmb10.9bn in Q1 2019 and
2018, respectively.
The placement still needs approval from
the Chinese regulator.
› CSRC TO REVIEW SOOCHOW SEC’S RIGHTS
The China Securities Regulatory
Commission has agreed to review a
Rmb6.5bn rights issue offering from
Shanghai-listed SOOCHOW SECURITIES.
The Chinese securities house plans to
offer up to 899m shares on a 3-for-10 basis.
Proceeds will be used to replenish capital
and as working capital.
The company posted net profits of
Rmb614m and Rmb347m in Q1 2019 and
full-year 2018 on revenues of Rmb1.49bn
and Rmb4.16bn, respectively.
The brokerage cancelled a Rmb6.5bn
rights issue plan last August.
› GEM CLEARS HEARING OVER PLACEMENT
Shenzhen-listed GEM has cleared a China
Securities Regulatory Commission hearing
for a Rmb3bn private placement.
The company plans to sell up to 830m
shares or 20% of the outstanding share
capital to fewer than 10 investors. Each can
only buy up to Rmb750m or 25% of this
placement and the final shares of each buyer
cannot exceed 5% of the enlarged capital.
GEM, formerly Shenzhen Green Eco-
manufacture Hi-tech, produces cobalt and
nickel-based products sourced from disused
electronics and other sources.
Proceeds will be used for two car-battery
projects and to replenish working capital.
The company’s A-shares rose 2.7% to
Rmb4.55 on August 19.
The placement still needs the written
approval of the CSRC.
Citic Securities is the sponsor.› JINSHANG BANK SELLS MORE SHARESJINSHANG BANK has partially exercised the
greenshoe option of its Hong Kong IPO,
lifting the total deal size to HK$3.7bn.
An additional 110.65m shares, or 12.9% of
the 860m-share base size, were sold at the
IPO price of HK$3.82 to raise HK$423m. The
greenshoe option was for up to 15% of the
base deal.
About 18.3m shares were purchased
during the stabilisation period at HK$3.82,
according to a company statement.
CCB International, CICC and CMB
International were sponsors.› NANHUA FUTURES SETS IPO ISSUE PRICEChinese broker NANHUA FUTURES has set the
issue price at Rmb4.84 per share for a
Rmb339m Shanghai IPO, which could be
the first IPO of a futures broker in China.
Books opened for a day on August 21.
The issuer plans to offer up to 70m
A-shares, or up to 12% of its enlarged capital.
Proceeds will be used to replenish capital.
The company posted net profits of
Rmb52.4m and Rmb124m on revenues of
Rmb3.8bn and Rmb4.6bn in 1H2019 and
2018, respectively.
Citic Securities is the sponsor.› NAURA TECH CLEARS HEARINGShenzhen-listed NAURA TECHNOLOGY GROUP
has cleared a China Securities Regulatory
Commission hearing for a proposed
Rmb2bn private placement.
The semiconductor equipment
manufacturer plans to offer 91.6m shares, or20% of its existing shares, to three investors.
National Integrated Circuit Industry
Investment Fund, Beijing Electronics
Holdings, and Beijing Jingguorui
State-Owned Enterprise Reform And
Development Fund have each committed
to buy up to Rmb911m, Rmb594m and
Rmb495m of the shares, respectively. They
will face a 36-month lock-up.
Proceeds will be used for research on
high-end integrated circuit equipment and
to upgrade the production facilities of high-
precision electronic components.
The company’s A-shares were down 0.1%
at Rmb62.02 on August 23.
China Securities is the sponsor.
The company still needs final written
approval from the CSRC.› PENGAI HOSPITAL PLANS US IPOShenzhen-based cosmetic surgery hospital
chain PENGAI HOSPITAL MANAGEMENT plans to
raise about US$70m–$80m from a US IPO as
early as this year, according to people close
to the deal.
The company filed for a Hong Kong IPO
in 2015 with Morgan Stanley and Haitong
International Securities as joint sponsors
but the deal did not materialise.
In May, So-Young International, which
operates a Chinese social network focusing
on plastic surgery, raised US$179m from a
Nasdaq IPO.
So-Young shares closed at US$15.52 last
Thursday, 12.5% above the IPO price of
US$13.80.› POWERLONG MANAGEMENT EYES IPOPOWERLONG COMMERCIAL MANAGEMENT, the
property management unit of Hong Kong-
listed Powerlong Real Estate, plans to raise
up to US$150m from a Hong Kong IPO,
according to people close to the deal.
Powerlong Management filed a listing
application last Tuesday, with ABC
International as the sole sponsor.
The company posted a net profit of
Rmb55m for the first four months of 2019,
up 59% year on year. Its full-year profit was
Rmb133m in 2018.
As of April 30 2019, its aggregate gross floor
area under management was 16.2 million
square meters and the aggregate contracted
GFA was 23.6 million square meters.
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