dzug’s h shares officially listed
on december 5 2016, shanghai dazhong public utilities (group) co., ltd.’s (dzug) h shares were officially listed on the main board of the stock exchange of hong kong. at 9:30am december 6, dzug’s chairman of the board mr. yang guoping beat the gong for listing.
on december 2, dzug announced the result of h-share global offering, indicating a total of 478,940,000 h shares sold at the price of hkd3.60 apiece, raising approximately hkd 1,444,500,000 net. according to dzug, the company plans to use the raised money in piped gas supply, wastewater treatment and other public utilities investments. the ipo has seen five cornerstone investors, i.e. enn energy investment under the enn energy holdings (2688.hk), investstar wholly-owned by the hong kong and china gas (0003.hk), new china amc under the new china life insurance, fung yu holdings owned by suchuang gas’ controlling shareholder mr. su aping and hungary cre new energy equipment.
in the evening of december 6, the celebration dinner for dzug’s h-share listing was held at conrad hong kong. dzug’s chairman mr. yang guoping gave a welcoming speech, in which he thanked all for their support to dzug for many years, and expressed the company’s determination to provide “shareholders, customers and staff” with outstanding operating performance. the celebration dinner also included the speeches by two sponsors, the exchange of gifts between the company and sponsors, the presentation of gifts by mr. yang guoping to five cornerstone investors, and the presentation of a giant check indicating the sum raised from the h-share listing by the representatives of sponsors to mr. yang guoping. dzug’s ceo mr. liang jiawei exchanged gifts with the representatives of underwriters, as well as other agencies. finally, the senior management of dzug proposed a toast to all honored guests to celebrate the golden moment.
