China Economic Net, Beijing, February 6 - The Shenzhen Stock Exchange recently announced that it would terminate its stake in Shanghai Baolijia Chemical Co., Ltd., referred to as "Baolijia", 301037SZ) applied for a review of the issuance of convertible corporate bonds to an unspecified object.
On June 27, 2023, the Shenzhen Stock Exchange accepted the application documents for the issuance of convertible corporate bonds by Baolijia to unspecified targets in accordance with the law, and reviewed them in accordance with the regulations. On January 31, 2024, Baolijia and the sponsor Guotai Junan ** Co., Ltd. submitted to the Shenzhen Stock Exchange the "Application of Shanghai Baolijia Chemical Co., Ltd. on Withdrawing the Issuance of Convertible Corporate Bonds to Unspecified Objects" and the "Application of Guotai Junan ** Co., Ltd. on Withdrawing Shanghai Baolijia Chemical Co., Ltd. from Issuing Convertible Corporate Bonds to Unspecified Objects". In accordance with the relevant provisions of Article 20 of the Rules for the Review of the Issuance and Listing of Listed Companies on the Shenzhen Stock Exchange and Article 62 of the Rules for the Examination of the Issuance and Listing of the Shenzhen Stock Exchange, the Shenzhen Stock Exchange decided to terminate the review of Bao Lijia's application for the issuance of convertible corporate bonds by unspecified objects.
According to the "Prospectus for the Issuance of Convertible Corporate Bonds to Unspecified Objects" disclosed by Bao Lijia on January 5, the total amount of funds raised in this issuance does not exceed RMB 31,700000,000 yuan (including this number), after deducting the issuance costs, it will be invested in the annual output of 230,000 tons of environmental protection new materials project and supplementary working capital.
The type of issuance** is convertible corporate bonds that can be converted into companies**. The convertible bonds and the future conversion will be listed on the Shenzhen Stock Exchange. The convertible bonds issued this time are issued at par value of RMB100 each. The duration of the convertible bonds is six years from the date of issuance.
The method of determining the coupon rate of the convertible bonds issued and the final interest rate level of each interest-bearing year shall be submitted to the general meeting of shareholders of the company to authorize the board of directors (or its authorized person) to negotiate with the sponsor (lead underwriter) before the issuance according to national policies, market conditions and the specific situation of the company. The convertible bonds issued this time adopt the interest payment method of once a year, and the principal and last year's interest of the outstanding convertible corporate bonds will be repaid at maturity.
The initial conversion of convertible bonds issued this time shall not be lower than the higher of the average trading price of the company on the 20 trading days before the announcement date of the prospectus and the average trading price of the company on the previous trading day, and the specific initial conversion of shares shall be determined by the board of directors (or its authorized person) according to the specific conditions of the market and the company before the issuance through consultation with the sponsor institution (lead underwriter).
The specific issuance method of the convertible bonds issued this time shall be determined by the board of directors (or its authorized person) and the sponsor (lead underwriter) authorized by the general meeting of shareholders. The issuance of convertible bonds is for natural persons, legal persons, investments, and other investors who comply with the laws and regulations (except those prohibited by national laws and regulations) who hold the accounts of Shenzhen Branch of China Depository and Clearing Co., Ltd.
The convertible bonds issued this time are subject to preferential allotment to the original shareholders of the company, and the original shareholders also have the right to give up the preferential allotment right. The convertible bonds issued in this offering are not guaranteed. The company hired Oriental Jincheng to conduct a comprehensive analysis and evaluation of the credit status of the company's issuance of convertible corporate bonds, the company's main credit rating is "A+", the rating outlook is "stable", and the credit rating of the convertible corporate bonds is "A+". During the duration of the convertible bonds, Oriental Jincheng will conduct a follow-up rating at least once a year.
Baolijia's sponsor (lead underwriter) is Guotai Junan ** shares***, and the sponsor representatives are Jia Chao and Chen Jinke.
*: China Economic Net.