China Everbright seeks dual listing in Hong Kong

MAINBOARD-LISTED China Everbright Water announced on Friday that it has applied to the Stock Exchange of Hong Kong (SEHK) to seek a dual primary listing on its main board.

The company has appointed China International Capital Corporation Hong Kong Securities and China Everbright Capital as its joint sponsors.

In conjunction with the proposed listing, China Everbright intends to offer new shares for public subscription in Hong Kong, and undertake a conditional placing of new shares to non-US persons in offshore transactions outside the United States, including to professional investors in Hong Kong. Details of this global offering will be made available in due course.

The application proof of the prospectus has been uploaded on the Singapore Exchange's website and will be uploaded on the SEHK's website.

China Everbright highlighted that the listing is subject to, among other things, the approval of the SEHK as well as of shareholders. It added: "Shareholders should note that in view of the public offering that has to be undertaken in respect of the Hong Kong public offering, the success of the proposed SEHK listing and the global offering will further be subject to, amongst others, the then prevailing market conditions."

China Everbright shares closed up 1.5 Singapore cents or 3.8 per cent at 41 Singapore cents on Friday before the news.