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Xinyi Energy (03868) pricing IPO at $1.89-2.42
07 Dec 2018
(Infocast News) Xinyi Energy Holdings Limited (03868), a solar-farm owner and operator, is expected to start its initial public offering on 10 December 2018. Details of the IPO are as follows:

Shares for offer: 1.880 billion shares, of which 90% are for international placing (including 766 million shares to qualifying shareholders) and 10% for Hong Kong public offering, with an option to offer an additional 15% shares

Offer price: HK$1.89-2.42 per share

Gross proceeds: HK$3.553-4.550 billion

Net proceeds: HK$3.91 billion (assuming an offer price of HK$2.155 per share)

Use of net proceeds:
- 90% for funding acquisition
- 10% for use as general working capital and for refinancing

The shares for Hong Kong public offering will be increased:
- to 20% of all global offer shares if the Hong Kong public offer shares are over-subscribed by less than 15x;
- to 30% of all global offer shares if the over-subscription is 15x or higher;
- to 40% of all global offer shares if the over-subscription is 50x or higher; and
- to 50% of all global offer shares if the over-subscription is 100x or higher.

Board lot size: 2,000 shares

IPO "entry fee": HK$4,888.77

Offer period: December 10 to noon on December 13

Pricing date: December 13

Listing date: December 21

Sponsor: BNP Paribas

Receiving bank: Hang Seng Bank

eIPO services via www.eipo.com.hk

(WL)
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