GDR releases good news! Keda has become the first company to successfully issue pricing on the Swiss Stock Exchange after the new regulations, sailing in Switzerland and connecting the world

On July 24, the results of the issuance of Keda Manufacturing Overseas Depositary Receipts (Global Depositary Receipts, hereinafter referred to as "GDR") were announced. The final issuance price was US$14.43 per share, and the number of issuances was 12 million. The underlying securities represented by A shares The number of shares is 60 million, and the total amount of funds raised is US$173 million. It will be officially listed on the SIX Swiss Exchange on July 28, becoming the first Chinese company to enter the Swiss capital market after the expansion of the Shanghai-London Stock Connect.

In February 2022, in order to further facilitate cross-border investment and financing, promote the global allocation of factor resources, and promote the institutional opening of the capital market, the China Securities Regulatory Commission issued the "Regulations on the Supervision of the Interconnected Depository Receipt Business of Domestic and Overseas Stock Exchanges". This regulation is considered to be an upgraded version of the "Shanghai-London Stock Connect". In terms of scope of application, the eligible listed companies of the Shenzhen Stock Exchange are included in the domestic market, and the overseas issuance market is expanded to Switzerland and Germany. Based on this, the overseas financing channels of Chinese enterprises have been expanded, and A-share listed companies can better go to the world and interconnect the world through "two markets and two resources".

As a listed company that thoroughly implements the globalization strategy, the company complies with national policies and actively promotes the issuance of GDRs.

On June 24, 2022, the company received the approval from the China Securities Regulatory Commission, and the acceptance time is only about one month away;

On July 20, the company's GDR issuance was approved by the Swiss Stock Exchange Supervisory Authority;

On July 22, the prospectus for this offering was approved by the Prospectus Office of the Swiss Stock Exchange Supervisory Authority, and the GDR pricing issuance was successfully completed on the same day. The final issuance price was confirmed at US$14.43 per share, and the number of issuance was 12 million. , with a total raised capital of US$173 million;

On July 28, the GDR issued by the company will be officially listed on the SIX Swiss Exchange.

Under this progress, the company will become the first batch of Chinese companies to enter the Swiss capital market after the expansion of the "Shanghai-London Stock Connect". Chinese enterprises provide reference samples.

In recent years, under the development of the company's globalization strategy, the proportion of overseas business has reached half of the company's overall revenue, and the company has gradually achieved in-depth integration of localization in various markets. At present, the company is actively entering the high-end market of construction ceramic machinery in Europe and the United States, developing African building materials business and potential South American business, based on global resource planning and layout.

Therefore, the listing on the SIX Swiss Exchange will help the company to expand international financing channels, attract more foreign capital to support the company's business development, enrich the company's shareholder structure and improve the company's governance level. At the same time, facing the international capital market will also help to enhance the company's reputation overseas, strengthen the company's brand influence, allow the company to have more opportunities to contact overseas outstanding companies, and help the company's globalization strategy and deepening of strategic investment layout. .

"Thirty years to forge ahead, take advantage of the momentum to seize opportunities", the company's 2022 has entered a new chapter, the company will also use GDR as an anchor, set sail from Switzerland, export Keda "manufacturing" to the world, and sing the voice of China!