20 Jan 2015
Everbright Water Brings in Strategic Investors through Issuance of 120,690,957 New Shares20 January 2015, Hong Kong - China Everbright International Limited ("Everbright International") (HKSE: 00257) is pleased to announce that its non-wholly owned subsidiary China Everbright Water Limited ("Everbright Water"), a listed company on the Main Board of the Singapore Exchange Securities Trading Limited (U9E:SI) has entered into subscription agreements with International Finance Corporation ("IFC") and Dalvey Asset Holding Ltd ("DAH", together with IFC, the "two strategic investors"), a wholly-owned subsidiary of RRJ Capital Master Fund II, L.P. which was established by RRJ Capital ("RRJ"), to allot and issue an aggregate of 120,690,957 new ordinary shares at an issue price of S$0.94 per subscription share to the two strategic investors, representing gross proceeds of approximately S$113,449,500.
The subscription shares represent approximately 4.85% of the existing issued and paid-up share capital of Everbright Water, and approximately 4.63% of the enlarged issued and paid-up share capital of Everbright Water. Upon completion, Everbright International's shareholding in Everbright Water will be slightly decreased from 78% to 74.4%.
Mr. Chen Xiaoping, CEO of Everbright International, said, "Everbright International completed the reverse takeover of Everbright Water (formerly HanKore Environment Tech Group Limited) on 12 December 2014. Everbright Water now has become the largest water treatment company listed on Singapore Exchange in terms of market capitalization. The introduction of IFC and RRJ, two internationally well-known investment institutions as the strategic investors, does not only optimize the shareholding structure of Everbright Water, but will also strengthen and advance the future development of Everbright Water. The subscription for the new shares of Everbright Water also demonstrates the high recognition on its intrinsic investment value and confidence on its strong growth momentum and development perspective from the investment community."