Zhong Guo Jing Ji Wang·2025-07-24 02:57Core Viewpoint - Guangnong Sugar Industry has received approval from the Shenzhen Stock Exchange for its application to issue shares to specific investors, pending final approval from the China Securities Regulatory Commission (CSRC) [1] Fundraising Details - The company plans to raise a total of up to 26 million yuan, with net proceeds allocated to the "Yun'ao Logistics Sugar Storage Intelligent Distribution Center Phase II Expansion Project" and to supplement working capital and repay bank loans [1][2] - The total investment for the Yun'ao Logistics project is approximately 20.79 million yuan, while the amount for working capital and loan repayment is 6.6 million yuan, totaling 27.39 million yuan [2] Issuance Conditions - The issuance will target no more than 35 specific investors, including securities investment funds, securities companies, trust companies, financial companies, insurance institutional investors, and qualified foreign institutional investors [2] - The final list of investors will be determined after approval from the Shenzhen Stock Exchange and the CSRC [2][4] Share Issuance Specifications - The shares will be issued at a price not lower than 80% of the average trading price over the 20 trading days prior to the pricing date [4] - The number of shares issued will not exceed 30% of the total share capital before the issuance, which is estimated to be up to 120,095,945 shares [4] Control and Ownership - Guangxi Rural Investment Group, the controlling shareholder, holds 38.23% of the company’s shares, and the issuance will not change the control structure, as the ownership percentage will decrease to 29.41% post-issuance [4] - The actual controller of the company remains the Guangxi Autonomous Region State-owned Assets Supervision and Administration Commission [4] Underwriting Information - The lead underwriter for this issuance is Guohai Securities Co., Ltd., with representatives Jiang Yaping and Li Jinhai [5]