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ZHEH Zhejiang Expressway Co

92.1998
0.00 (0.00%)
Last Updated: 00:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Zhejiang Expressway Co LSE:ZHEH London Ordinary Share CNE1000004S4 'H' CNY1
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 92.1998 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Zhejiang Expressway Proposed Issue of Convertible Bonds

05/04/2017 10:02am

UK Regulatory


 
TIDMZHEH 
 
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong 
Limited take no responsibility for the contents of this announcement, make no 
representation as to its accuracy or completeness and expressly disclaim any 
liability whatsoever for any loss howsoever arising from or in reliance upon 
the whole or any part of the contents of this announcement. 
 
This announcement is for informational purposes only and is not an offer to 
sell or the solicitation of an offer to buy securities in the United States or 
in any other jurisdiction in which such offer, solicitation or sale would be 
unlawful prior to registration or qualification under the securities laws of 
any such jurisdiction. 
 
This announcement does not constitute or form a part of any offer or 
solicitation to purchase or subscribe for securities in the United States. The 
Convertible Bonds to be issued have not been and will not be registered under 
the Securities Act or the securities laws of any state of the United States or 
other jurisdiction and, subject to certain exceptions, may not be offered or 
sold within the United States. The Convertible Bonds are being offered only 
outside the United States in reliance on Regulation S under the Securities Act 
("Regulation S"). 
 
                        ZHEJIANG EXPRESSWAY CO., LTD. 
 (A joint stock limited company incorporated in the People's Republic of China 
                            with limited liability) 
                              (Stock code: 0576) 
 
VOLUNTARY ANNOUNCEMENT 
 
                       PROPOSED ISSUE OF EURO365 MILLION 
                    ZERO COUPON CONVERTIBLE BONDS DUE 2022 
 
The Company proposes to offer Euro365 million zero coupon Convertible Bonds due 
2022 to professional investors in Hong Kong, and to offer the Convertible Bonds 
only outside the United States in accordance with Regulation S under the 
Securities Act. 
 
Application will be made to the Stock Exchange for the listing of, and 
permission to deal in, the Convertible Bonds by way of debt issue to 
professional investors only. The completion of the proposed Convertible Bonds 
issue is subject to market conditions and investors' interest. 
 
The proposed Convertible Bonds issue may or may not materialize. Potential 
investors and shareholders of the Company are urged to exercise caution when 
dealing in the securities of the Company. Further announcement in respect of 
the proposed Convertible Bonds issue will be made by the Company should a 
subscription agreement be signed. 
 
THE PROPOSED CONVERTIBLE BONDS ISSUE 
 
The Company proposed to offer Euro365 million zero coupon Convertible Bonds due 
2022 to professional investors in Hong Kong, and to offer the Convertible Bonds 
only outside the United States in accordance with Regulation S under the 
Securities Act. None of the Convertible Bonds will be offered to the public in 
Hong Kong and none of the Convertible Bonds will be placed to any connected 
persons of the Company. 
 
The pricing of the Convertible Bonds, including the issue price and the initial 
conversion price, will be determined through a book building exercise conducted 
by the Joint Global Coordinators, the Joint Bookrunners and the Joint Lead 
Managers. Upon finalisation of the terms of the Convertible Bonds, the Joint 
Lead Managers will enter into a subscription agreement with the Company in 
relation to the Convertible Bonds. 
 
PROPOSED USE OF PROCEEDS 
 
The Company intends to use the net proceeds from the offering of the 
Convertible Bonds for, among others, for repayment of existing debt and general 
corporate purposes. 
 
LISTING 
 
Application will be made to the Stock Exchange for listing of, and permission 
to deal in, the Convertible Bonds by way of debt issue to professional 
investors only. Listing of the Convertible Bonds on the Stock Exchange is not 
to be taken as an indication of the commercial merits or credit quality of the 
Company or the Convertible Bonds. 
 
The proposed Convertible Bonds issue may or may not materialise. Potential 
investors and shareholders of the Company are urged to exercise caution when 
dealing in the securities of the Company. Further announcement in respect of 
the proposed Convertible Bonds issue will be made by the Company should a 
subscription agreement be signed. 
 
DEFINITIONS 
 
In this announcement, unless the context requires otherwise, the following 
expressions have the following meanings: 
 
"Board"                     the board of directors of the Company 
 
"Convertible Bonds"         the convertible bonds expected to be issued by the 
                            Company 
 
"Company"                   Zhejiang Expressway Co., Ltd., a joint stock 
                            limited company incorporated in the PRC with 
                            limited liability, whose H shares are listed on the 
                            Hong Kong Stock Exchange (Stock Code: 0576) 
 
"connected persons"         has the meaning ascribed to it under the Listing 
                            Rules 
 
"Euro"                      Euro, the lawful currency of the Eurozone 
 
"Hong Kong"                 Hong Kong Special Administrative Region of the PRC 
 
"Joint Bookrunners"         BOCI Asia Limited, China International Capital 
                            Corporation Hong Kong Securities Limited and 
                            Citigroup Global Markets Limited 
 
"Joint Global Coordinators" BOCI Asia Limited, China International Capital 
                            Corporation Hong Kong Securities Limited and 
                            Citigroup Global Markets Limited 
 
"Joint Lead Managers"       BOCI Asia Limited, China International Capital 
                            Corporation Hong Kong Securities Limited and 
                            Citigroup Global Markets Limited 
 
"Listing Rules"             the Rules Governing the Listing of Securities on 
                            The Stock Exchange of Hong Kong Limited 
 
"PRC"                       the People's Republic of China excluding, for the 
                            purpose of this announcement, Hong Kong, the Macau 
                            Special Administrative Region and Taiwan area 
 
"Securities Act"            the United States Securities Act of 1933, as 
                            amended 
 
"Stock Exchange"            The Stock Exchange of Hong Kong Limited 
 
"United States"             the United States of America, its territories and 
                            possessions and all areas subject to its 
                            jurisdiction 
 
                                           By Order of the Board 
                                            Zhejiang Expressway Co., Ltd. 
                                               Tony Zheng 
                                                Company Secretary 
 
Hangzhou, the PRC, 5 April 2017 
 
As at the date of this announcement, the executive directors of the Company 
are: Mr. ZHAN Xiaozhang, Mr. CHENG Tao and Ms. LUO Jianhu; the non-executive 
directors of the Company are: Mr. WANG Dongjie, Mr. DAI Benmeng and Mr. ZHOU 
Jianping; and the independent non-executive directors of the Company are: Mr. 
ZHOU Jun, Mr. PEI Ker-Wei and Ms. LEE Wai Tsang Rosa. 
 
 
 
END 
 

(END) Dow Jones Newswires

April 05, 2017 05:02 ET (09:02 GMT)

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