Last checked at 13 Oct 2020 08:11
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CHINA YANGTZE POWER CO., LTD.
Exercise of Over-allotment Option
13 October 2020
UBS AG London Branch, acting as the Stabilising Manager in connection with the offering of Global Depositary Receipts (the "GDRs") representing A shares (the "Offering") of CHINA YANGTZE POWER CO., LTD. (the "Company"), has today given notice to exercise the over-allotment option (the "Over-allotment Option") granted by the Company in respect of 5,085,923 GDRs (the "Option GDRs"), representing 7.4% of the number of GDRs comprised in the Offering (before the exercise of the Over-allotment Option).
The Option GDRs will be issued at the offer price of USD 26.46 per GDR, raising additional gross proceeds for the Company of USD134.6 million.
Including the exercise of the Over-allotment option, the final total size of the Offering was USD1,963.0 million (74,185,923 GDRs, with each GDR representing ten A shares of the Company, each with a fully paid nominal value of RMB1.00 each), in total representing 3.4% of the Company's outstanding share capital prior to the Offering.
Settlement of the Option GDRs is expected to take place on 19 October 2020.
Corporate Information
China Yangtze Power Co., Ltd. is a joint stock company with limited liability established pursuant to the Company Law of the People's Republic of China.
The Company's registered office is located at Block B, No. 1 Yuyuantan South Road, Haidian District, Beijing, People's Republic of China.
For further information, please visit https://en.cypc.com.cn/cypcweb/cypcen/index.html or contact:
Secretary of the Board of Directors
LI Shaoping
Tel: +86 010-5868 8900
Email: cypc@cypc.com.cn
Disclaimer
The information contained in this announcement is for background purposes only and does not purport to be full or complete nor does it constitute or form part of any invitation or inducement to engage in investment activity, nor does it constitute an offer or invitation to buy any securities in any jurisdiction including the United States, or a recommendation in respect of buying, holding or selling any securities. No reliance may be placed by any person for any purpose on the information contained in this announcement or its accuracy, fairness or completeness.
This announcement is not for publication or distribution, directly or indirectly, in or into the United States (including its territories and possessions, any State of the United States and the District of Columbia), Australia, Canada, Japan or South Africa. This announcement does not constitute or form a part of any offering or solicitation to purchase or subscribe for, or otherwise invest in, securities in the United States, Australia, Japan or South Africa. The GDRs referred to herein have not been, and will not be, registered under the United States Securities Act of 1933 (the "Securities Act"). The GDRs are being offered and sold in the United States only to qualified institutional buyers as defined in Rule 144A under the Securities Act or another exemption from, or a transaction not subject to, the registration requirements under the Securities Act. The GDRs are being offered and sold outside the United States in "offshore transactions" within the meaning of Regulation S under the Securities Act.
The GDRs may not be offered or sold in the United States except pursuant to an exemption from or in a transaction not subject to the registration requirements of the Securities Act. There will be no public offering of securities in the United States.
This announcement is only addressed to and directed at persons in Member States of the European Economic Area ("Member States") and the United Kingdom who are "qualified investors" within the meaning of Article 2(e) of the Prospectus Regulation (Regulation (EU) 2017/1129) (the "Prospectus Regulation") and related implementation measures ("Qualified Investors"). In addition, in the United Kingdom, this announcement is only addressed to and directed at Qualified Investors who have professional experience in matters relating to investments and who fall within the definition of "investment professionals" in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order") or who fall within Article 49 of the Order or any other persons to whom it may otherwise be lawfully communicated (all such persons together being referred to as "relevant persons"). This announcement must not be acted on or relied on: (i) in the United Kingdom, by persons who are not relevant persons; and (ii) in any Member State by persons who are not Qualified Investors. Any investment or investment activity to which this announcement relates is available only to: (i) in the United Kingdom, relevant persons; and (ii) in any Member State, Qualified Persons and other persons who are permitted to subscribe for the GDRs described herein pursuant to an exemption from the Prospectus Regulation and other applicable legislation, and will only be engaged in with such persons.