China Net Finance, December 25 (Reporter Su Nan Ye Qian) A few days ago, Qianjiang Water Conservancy announced that it intends to issue no more than 10.6 billion shares, not more than 30% of the company's total share capital before the issuance, and the total amount of funds raised is not more than 75.2 billion yuan.
Among them, Qianjiang Water Conservancy said in the announcement that the pricing benchmark date of this issuance is the first day of the issuance period of this offering. The issuance** shall not be less than 80% of the average trading price of the Company's A shares** in the 20 trading days prior to the pricing benchmark date and the higher of the audited net asset value per share attributable to shareholders of the parent company at the end of the most recent period before the issuance (the "Issue Floor Price").
China Water Investment, the controlling shareholder of Qianjiang Water Conservancy, intends to subscribe for 25% of the amount of the issuance in cash. The final number of shares subscribed by China Water shall be determined through negotiation between China Water and the Company after the issuance of ** is determined, and the remaining shares shall be subscribed by other issuers.
No more than 7The scale of 5.2 billion yuan of raised funds is not more than 9On the basis of 4.3 billion yuan, the part of the company's financial investment in the net assets attributable to the parent company in the consolidated statement as of September 30, 2023 will be deducted (i.e., about 1.9.1 billion yuan).
The net proceeds after deducting the issuance expenses will be used for a total of seven water plant projects or sewage treatment plant projects, including the Hucun Water Plant Project (Phase I) Project and the Yongkang City Sewage Treatment Plant (Phase V) Project.
It is worth noting that on the first trading day after the release of the above-mentioned fixed increase plan of Qianjiang Water Conservancy, the company's stock price opened at the top, with a maximum decline of nearly 695%, and set a record for the lowest stock price in nearly half a year, 11$91 shares. Since then, although the stock price has recovered slightly, it is still down nearly 5%. As of this afternoon**, the company's share price is 12$16 shares, **5%.