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China Longyuan Trading Debut on the Hong Kong Exchanges and Clearing Limited

China Longyuan Trading Debut on the Hong Kong Exchanges and Clearing Limited

Write: King [2011-05-20]

Global Offering raises approximately HK$ 17.5 billion

China Longyuan Trading Debut on the Hong Kong Exchanges and Clearing Limited
China Longyuan Trading Debut on the Hong Kong Exchanges and Clearing Limited
China Longyuan Trading Debut on the Hong Kong Exchanges and Clearing Limited
China Longyuan Trading Debut on the Hong Kong Exchanges and Clearing Limited
On 10 December 2009, China Longyuan Power Group Corporation Limited ( China Longyuan or the Company , Stock code: 00916), the leading wind power generation company, was listed on the main board of the Hong Kong Exchanges and Clearing Limited (HKEx).Mr. Zhu Yongpeng, President of China Guodian Corporation and Chairman of China Longyuan Power Group Corporation Limited, Mr. Qiao Baoping Party Secretary of China Guodian Corporation, Mr. Chen Fei, Vice President of China Guodian Corporation, Mr. Zhang Guohou, Chief Accountant of China Guodian Corporation, and Mr. Xie Changjun, President of China Longyuan Power Group Corp Ltd., attended the listing ceremony in Hong Kong. Mr. Zhu Yongpeng delivered a speech.

The Global Offering of China Longyuan comprised a total of 2,142,860,000 H shares. It has been priced at HK$8.16 per share. The Company has raised gross proceeds of approximately HK$17.5 billion from the Global Offering.

Shares of China Longyuan were actively traded with an intra day high of HK$9.26 and closed at HK$8.93. Total trading volume was approximately 767 million today, representing an aggregate turnover of approximately HK$ 6.935 billion.

Mr. Zhu Yongpeng expressed in his speech that without strong supports from such ministries and commissions as the State Development and Reform Commission, the Bureau of Energy, China Securities Regulatory Commission, State-owned Assets Supervision and Administration Commission of the State Council, and the Ministry of Environmental Protection, it would be impossible for China Longyuan Power Group Corporation Limited to get listed on the main board of the Hong Kong Exchanges and Clearing Limited; China Longyuan had obtained the full assistances from various intermediaries and the arduous efforts of all its staff members.

He said that it relied more on concerns and trust of people from all circles and investors so that China Longyuan could evoke strong responses in the international capital market.

Mr. Zhu Yongpeng pointed out that the prospects for new energy industry were vast as the trend for better that the global economy picked up as a whole and the Chinese economy graveled for the moment. China Longyuan would take the opportunity of getting listed successfully to bring into full play its own advantages and strive for larger shares in the market so as to further solidify its leading position in the sector of wind energy and realize the sustainable growth in terms of performance.

Mr. Zhu Yongpeng promised on behalf of the Board of Directors that China Longyuan would strictly abide by various provisions in the HKEx listing rules, adhere to the concept of environment protection and the principle of credit management, set up the confidence in long-term development, realize the sustainable growth of its performance so as to repay investors, its staff members, and the society.

It took China Longyuan over three years to make efforts and get its H-shares listed. Early as in April 2006, the listing investigations and feasibility studies and analyses started. On 15 May, 2007, China Longyuan conducted its transformation and formally started its preparations for get its H-shares listed.

On 9 July, 2009, China Longyuan Power Group Corporation Limited was formally set up. On 27 November, 2009, China Longyuan announced the global offerings of its H-shares. On 9 December, 2009, China Longyuan announced the results of international offerings and the public offerings of its H-shares in Hong Kong: the offering price was HKD 8.

16 per H-share was the upper limit of the pricing scope; and the public offerings in Hong Kong were oversubscribed by about 235 times and the international offerings were also remarkably oversubscribed.

Representatives from such units as State Grid Corporation of China and China Development Bank, representatives from such intermediaries as Morgan Stanley and the United Bank of Switzerland (UBS), the Chief Engineer and the Assistant to the President of China Guodian Corporation and personnel in charge of relevant departments and subsidiary units of China Guodian Corporation, the senior management of China Longyuan Power Group Corporation Limited and personnel in charge of the subsidiary enterprises attended the listing ceremony.

Links: Events for the listings of China Longyuan

In April 2006, listing investigations and feasibility studies and analyses started

On 15 May, 2007, China Longyuan conducted its transformation and formally started its preparations for get its H-shares listed.

On 24 November, 2008, it was approved by the State-owned Assets Supervision and Administration Commission of the State Council that China Longyuan would conduct transformation and get prepared for its listing abroad.

On 13 April, 2009, the State Development and Reform Commission issued its reply to the China Securities Regulatory Commission and approved that China Longyuan could get listed abroad.

On 15 May, 2009, the State-owned Assets Supervision and Administration Commission of the State Council completed the assessment and archive filing of China Longyuan s assets.

On 24 June, 2009, the State-owned Assets Supervision and Administration Commission of the State Council approved China Longyuan s plan for the management of state-owned equities.

On 9 July, 2009, China Longyuan Power Group Corporation Limited was formally incorporated.

On 18 August, 2009, China Securities Regulatory Commission received and heard the case of the application for offerings and listing abroad.

On 18 August, 2009, A1 files were submitted to the Hong Kong Exchanges and Clearing Limited.

On 30 October, 2009, China Securities Regulatory Commission approved that China Longyuan would get listed abroad.

On 5 November, 2009, China Longyuan passed the listing hearing of the Hong Kong Exchanges and Clearing Limited.

On 27 November, 2009, the global offerings of H-shares were started.

On 4 December, 2009, the share price was determined.

On 10 December, 2009, H-shares of China Longyuan were formally listed.