(8 december 2009 - hong kong) china longyuan power group corporation limited (“china longyuan” or the “company”, stock code: 00916), the leading wind power generation company in the prc, announces today the allotment results of its global offering (‘‘global offering’’) and hong kong public offering (‘‘hong kong public offering’’). the issue was priced at hk$8.16 per h share, being the high end of the indicative offer price range. the hong kong public offering was approximately 235 times over-subscribed while the international offering was significantly over-subscribed.
the global offering of china longyuan comprised a total of 2,142,860,000 h shares, of which approximately 95% (2,035,716,000h shares) was initially offered in the international offering and approximately 5% (107,144,000h shares) was initially offered in the hong kong public offering.
the number of offer shares validly applied for under the hong kong public offering represents more than 100 times of the number of offer shares initially available for subscription under the hong kong public offering. therefore, the number of offer shares under the hong kong public offering has been increased through reallocation from the international offering such that the total number of offer shares available under the hong kong public offering is 428,572,000 offer shares, representing 20% of the offer shares initially available under the global offering.dealing in the company’s h shares will begin on the main board of the stock exchange of hong kong limited at10:00a.m. on 10 december 2009 (thursday) under the stock code “00916” with board lots of 1,000 h shares.
china longyuan intends to apply the net proceeds from the global offering as follows: to invest in the construction of wind power projects in the prc; to repay bank loans; to purchase equipment, key components and spare parts produced by foreign wind power equipment manufacturers; to increase equity investment in hero asia investment limited, a wholly-owned subsidiary of the company; and for working capital and other general corporate uses.