by swisschambei in Business
Jiangsu Eastern Shenghong Co., Ltd. placed 39,794,000 GDRs at an offer price of USD 18.05 per GDR, with one (1) GDR representing an interest in ten (10) A-shares of the company. The A-shares of the company are listed on the Shenzhen Stock Exchange. Jiangsu Eastern Shenghong Co., Ltd. raised gross proceeds of approximately USD 718.3 million from the GDRs offering. Jiangsu Eastern Shenghong Co., Ltd. is a chemical enterprise featuring vertical integration of the value chains and focusing on applications for renewable energy in China. The company’s product offerings include renewable energy materials and performance chemicals, petrochemicals and chemical fibers.