Zhejiang Huayou Cobalt Lists GDRs on SIX Swiss Exchange, Raises Over $580 Million

Zhejiang Huayou Cobalt Lists GDRs on SIX Swiss Exchange, Raises Over $580 Million

(IN BRIEF) Zhejiang Huayou Cobalt Co., Ltd., a Chinese company operating in the lithium-ion battery material industry, has listed its Global Depository Receipts (GDRs) on the SIX Swiss Exchange. The company placed 50 million GDRs at an offer price of USD 11.65 per GDR, with each GDR representing an interest in two A-shares of the company, which are listed on the Shanghai Stock Exchange. The GDRs offering raised approximately USD 582.5 million in gross proceeds for Zhejiang Huayou Cobalt. The company follows five other companies in listing GDRs on the SIX Swiss Exchange in 2023.

(PRESS RELEASE) ZURICH, 8-Jul-2023 — /EuropaWire/ — Zhejiang Huayou Cobalt Co., Ltd. placed 50,000,000 GDRs at an offer price of USD 11.65 per GDR, with one (1) GDR representing an interest in two (2) A-shares of the company. The A-shares of the company are listed on the Shanghai Stock Exchange. Zhejiang Huayou Cobalt Co., Ltd. raised gross proceeds of approximately USD 582.5 million from the GDRs offering.

Zhejiang Huayou Cobalt Co., Ltd.  is a global technology-driven enterprise in the lithium-ion battery material industry. It has a vertically integrated business model covering all steps along the value chain of the industry, starting from development of resources (i.e., nickel, cobalt and lithium) to the manufacture of lithium-ion battery materials.

More information about Zhejiang Huayou Cobalt Co., Ltd.

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SOURCE: SIX Swiss Exchange