Today, Jiangsu Eastern Shenghong Co., Ltd. placed 39,794,000 GDRs at an offer price of USD 18.05 per GDR, with one (1) GDR representing an interest in ten (10) A-shares of the company. The A-shares of the company are listed on the Shenzhen Stock Exchange. Jiangsu Eastern Shenghong Co., Ltd. raised gross proceeds of approximately USD 718.3 million from the GDRs offering.
Jiangsu Eastern Shenghong Co., Ltd. is a chemical enterprise featuring vertical integration of the value chains and focusing on applications for renewable energy in China. The company’s product offerings include renewable energy materials and performance chemicals, petrochemicals and chemical fibers.
9th GDR listing on SIX Swiss Exchange in 2022
The China-Switzerland Stock Connect program entered into force on 25 July 2022, enabling Chinese companies to list its GDRs in Switzerland. In addition to that, a separate trading segment for GDRs was established, as well as shortened trading hours between 3 p.m. and 5.40 p.m. applied.
The nine listings recorded this year are a great proof of the attractiveness of SIX Swiss Exchange for internationally active, growth-seeking companies such as Jiangsu Eastern Shenghong, Hangzhou GreatStar Industrial, Sunwoda Electronic, Joincare Pharmaceutical, Lepu Medical Technology, GEM, Gotion High-tech, Keda Industrial Group and Ningbo Shanshan.