Shanghai (Gasgoo)- On July 28, Gotion High-Tech, an electric battery manufacturer from China, rang the bell at the Swiss Stock Exchange to celebrate its public listing by issuing depositary receipts. global commodities (GDRs), becoming one of the first Chinese companies to be listed. on the Swiss Stock Exchange.
Gotion High-Tech said it issued 22,833,400 GDRs at an offer price of $30 per GDR. Each GDR represents an interest in five A shares of the company. The proceeds from the GDR offering were approximately $685 million.
The issuance of the GDR is the largest GDR project in terms of the size of the main issue on the Swiss Stock Exchange since the implementation of the China-Europe Stock Connect regulations, and it is the largest financing project given to the Swiss market so far. this year.
In particular, Gotion High-Tech is the only Chinese battery manufacturer that has successfully launched in Switzerland.
After the public listing, Gotion High-Tech will continue to expand production outside the production of goods and raw materials through investment in fixed assets, acquisition of equity interests or others way, and increased investment in R&D to ensure its internal leadership. the battery technology field, said the company.
Besides Gotion High-Tech, three Chinese companies—GEM Co., Ltd., Ningbo Shanshan Co., Ltd., and Keda Industrial Group Co., Ltd.—also arrived on the Swiss Stock Exchange in the same day.
Gasgoo not only offers news and in-depth information about China’s auto industry, but also helps business communication and expansion for buyers and sellers through a variety of methods and methods. Customer service: buyer-support@gasgoo.com Customer service: seller-support@gasgoo.com
All Rights Reserved. Do not reproduce, copy and use the content without permission. Contact us: autonews@gasgoo.com
