June 22, 2006, Suning Electrical distribution disclosed the results announcement, announcement showed: non-public offering of its refinancing program a great success, non-public offering of 2,500 shares have been seven fund management companies to complete subscription price of 48 yuan, the refinancing rate by 12 billion. Suning Appliance now has reached 360 million shares of the total share capital in order to pre-suspension closing price of 53.87 yuan, the total market value of Suning has reached 19.413 billion yuan.
It is reported that on May 8, “the Issuance of Securities by Listed Companies” for the first day, Suning Appliance to suspend the convening of the Board to consider the motion of the refinancing, and use established channels to raise. The program has been generally optimistic investors, and the May 24 shareholders meeting overwhelmingly approved; June 16, the application is formally approved by China Securities Regulatory Commission; June 20, Suning Appliance 25 million additional shares have been 7 fund management company completed subscription price of 48 yuan. The additional 20 days before the suspension ended Subscription average price was 48.88 yuan, 48 yuan last subscription is the average price of 98.2%. Currently 1.2 billion fund-raising has been fully in place.
Suning Appliance from the issuance of general meeting of shareholders by issuing the end of the motion to issue less than a month, was approved by the Commission from raising funds to place only two days, Suning finally completed a “lightning” additional.
This, Suning Appliance secretaries to directorate, said Ren Jun, mainly due to the intrinsic value of the enterprise Suning have won the approval of investors, particularly large multi-fund companies have praised Su Ning; another reason is that the issue innovative ways. May 8 implementation of the “Issuance of the securities of listed companies” listed company established a system of non-public offering, Suning Appliance and Changjiang BNP Paribas sponsor institutions of the system were positive for the research and exploration, and in the laws and regulations developed under the framework of a set of full compliance with the principle of maximizing shareholder subscription procedures and rules, which not only ensures the interests of investors, but also allow investors to fully understand the Suning refinancing serious attitude problem , as well as the seriousness of the implementation of national policies. Therefore, the non-public offering of Suning Appliance normative been recognized by investors and regulators.
Ren Jun also said that Suning has a smooth implementation of the refinancing can not do without China’s capital market for nearly two years, the ongoing reform and innovation, is the state and the SFC issued a bold reform of the way, just as Suning Appliance provides better opportunities for development.
Industry experts believe that the Suning Appliance 1.2 billion refinancing of funds, the rapid development of Suning Appliance will provide a more comprehensive capital platform, raised funds to use the original direction?? Chain development, logistics centers and information centers project will be adequate funding, the faster and better promote the core competitiveness of Suning Appliance.
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