Three Chinese Lithium Companies Pursue Secondary Listings in Europe

by swisschambei in Business

Three Chinese lithium companies are planning secondary listings in Switzerland, The Paper reported. These three companies are Keda Industrial Group Co Ltd, Gotion High-tech and Ningbo Shanshan Co Ltd. Keda announced on April 8 that it planned to terminate the non-public offering of A shares in 2022 and apply for overseas issuance of global depository receipts or GDR and listing on the SIX Swiss Exchange. Global depository receipts refer to globally issued stocks and bonds that can be traded in two or more financial markets, which can facilitate international investors in stock trading, dividend payment and rights offering. The newly added A shares of underlying securities represented by the issuance of GDR shall not exceed 100 million shares, which shall not exceed 5.3 percent of the total share capital of the company’s ordinary shares prior to this issuance, the report said, citing Keda’s announcement. After issuance expense deduction, the company will use the raised funds from the issuance of GDR to expand its main business and strategic investment business, promote the global layout and supplement the company’s operational capital, Keda said.

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