Source - RNS
RNS Number : 3937C
Goldman Sachs International
16 October 2020
 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT.

 

SDIC Power Holdings CO., LTD

Pre-Stabilisation Notice

  16 October 2020

Goldman Sachs International (contact: Mark Maislish, telephone: +44 (0)20 7051 7289) hereby gives notice that the entity undertaking stabilisation (the "Stabilising Manager" named below and its affiliates) may stabilise the offer of the following securities in accordance with Regulation (EU) No 596/2014 (Market Abuse Regulation) and Commission Delegated Regulation (EU) 2016/1052. Stabilisation transactions aim at supporting the market price of the Securities during the Stabilisation Period. Stabilisation may not necessarily occur and it may cease at any time.

The securities:

Issuer:

SDIC Power Holdings CO., LTD

Securities:

Global depositary receipts (the "GDRs") each representing 10 A shares of the Company (ISIN: US78397C2098)

Offering size:

16,350,000 GDRs (excluding the over-allotment option)

Offer Price:

US$12.27 per GDR

Stabilisation:

Stabilisation Manager (and central point within the meaning of Commission Delegated Regulation (EU) 2016/1052):

Goldman Sachs International, Plumtree Court, 25 Shoe Lane, London EC4A 4AU

Contact: Mark Maislish, telephone: +44 (0)20 7051 7289

Beginning of the Stabilisation Period:

16 October 2020

Stabilisation Period to end no later than:

14 November 2020

Trading venue where stabilisation may be undertaken:

London Stock Exchange

Maximum size of Over-allotment Option:

1,635,000 GDRs, 10% of the total number of GDRs comprised in the Offer (defined below)

Over-allotment & Greenshoe Option:

Terms:

In connection with the offer of GDRs (the "Offer"), the Stabilising Manager, or any of its agents, may (but will be under no obligation to), to the extent permitted by applicable law, over-allot GDRs or effect other transactions with a view to supporting the market price of the GDRs at a level higher than that which might otherwise prevail in the open market. However, there is no assurance that the Stabilising Manager (or persons acting on its behalf) will undertake stabilisation action and there will be no obligation on the Stabilising Manager or any of its agents to effect stabilising transactions. Any stabilisation action may begin on the date of adequate public disclosure of the final price of the GDRs and, if begun, may be ended at any time but must end no later than 30 calendar days thereafter (the "Stabilisation Period"). Any stabilisation action must be undertaken in accordance with applicable laws and regulations. Such stabilisation, if commenced, may be discontinued at any time without prior notice. Save as required by law or regulation, the Stabilising Manager does not intend to disclose the extent of any over-allotments made and/or stabilisation transactions concluded in relation to the Offer.

In connection with the Offer, the Stabilising Manager may, for stabilisation purposes, over-allot GDRs up to a maximum of 10% of the total number of GDRs comprised in the Offer. For the purposes of allowing it to cover short positions resulting from any such over-allotments and/or from sales of GDRs effected by it during the Stabilisation Period, the Stabilising Manager will enter into over-allotment arrangements pursuant to which the Stabilising Manager may purchase or procure purchasers for additional GDRs up to a maximum of 10% of the total number of GDRs comprised in the Offer (the "Over-allotment GDRs") at the Offer price. The over-allotment arrangements will be exercisable in whole or in part, upon notice by the Stabilising Manager, at any time on or before the 30th calendar day after the pricing date of the GDRs on the London Stock Exchange. Any Over-allotment GDRs made available pursuant to the over-allotment arrangements, including for all dividends and other distributions declared, made or paid on the GDRs, will be purchased on the same terms and conditions as the GDRs being issued or sold in the Offer and will form a single class for all purposes with the other GDRs.

Number of GDRs covered by Over-allotment Option:

1,635,000 GDRs

Duration:

The Over-allotment Option may be executed at any time during the Stabilisation Period.

 

 

 

Disclaimer

 

The information contained in this announcement is for background purposes only and does not purport to be full or complete nor does it constitute or form part of any invitation or inducement to engage in investment activity, nor does it constitute an offer or invitation to buy any securities in any jurisdiction including the United States, or a recommendation in respect of buying, holding or selling any securities. No reliance may be placed by any person for any purpose on the information contained in this announcement or its accuracy, fairness or completeness.

 

This announcement is not for publication or distribution, directly or indirectly, in or into the United States (including its territories and possessions, any State of the United States and the District of Columbia), Australia, Canada, Japan or South Africa. This announcement does not constitute or form a part of any offering or solicitation to purchase or subscribe for, or otherwise invest in, securities in the United States, Australia, Japan or South Africa. The GDRs referred to herein have not been, and will not be, registered under the United States Securities Act of 1933 (the "Securities Act"). The GDRs are being offered and sold outside the United States in "offshore transactions" within the meaning of Regulation S under the Securities Act.

 

The GDRs may not be offered or sold in the United States except pursuant to an exemption from or in a transaction not subject to the registration requirements of the Securities Act. There will be no public offering of securities in the United States.

 

This announcement is only addressed to and directed at persons in Member States of the European Economic Area ("Member States") and the United Kingdom who are "qualified investors" within the meaning of Article 2(e) of the Prospectus Regulation (Regulation (EU) 2017/1129) (the "Prospectus Regulation") and related implementation measures ("Qualified Investors"). In addition, in the United Kingdom, this announcement is only addressed to and directed at Qualified Investors who have professional experience in matters relating to investments and who fall within the definition of "investment professionals" in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order") or who fall within Article 49 of the Order or any other persons to whom it may otherwise be lawfully communicated (all such persons together being referred to as "relevant persons"). This announcement must not be acted on or relied on: (i) in the United Kingdom, by persons who are not relevant persons; and (ii) in any Member State by persons who are not Qualified Investors. Any investment or investment activity to which this announcement relates is available only to: (i) in the United Kingdom, relevant persons; and (ii) in any Member State, Qualified Persons and other persons who are permitted to subscribe for the GDRs described herein pursuant to an exemption from the Prospectus Regulation and other applicable legislation, and will only be engaged in with such persons.

 

 

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