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Yixin Group Limited — Capital/Financing Update 2017
Dec 10, 2017
50779_rns_2017-12-10_723e20a5-8a2d-444b-ac2b-97996186f76e.pdf
Capital/Financing Update
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Unless otherwise defined herein, capitalized terms used in this announcement shall have the same meanings as those defined in the prospectus dated November 6, 2017 (the “ Prospectus ”) of Yixin Group Limited (the “ Company ”).
Hong Kong Exchanges and Clearing Limited, The Stock Exchange of Hong Kong Limited (the “ Stock Exchange ”) and Hong Kong Securities Clearing Company Limited (“ HKSCC ”) take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
This announcement is made pursuant to section 9(2) of the Securities and Futures (Price Stabilizing) Rules (Chapter 571W of the Laws of Hong Kong).
This announcement is for information purposes only and does not constitute an offer or an invitation to induce an offer by any person to acquire, purchase or subscribe for any securities.
This announcement is not for release, publication, distribution, directly or indirectly, in or into the United States or any other jurisdiction where such distribution is prohibited by law. This announcement does not constitute and is not an offer to sell or a solicitation of any offer to buy securities in Hong Kong, the United States or elsewhere. The securities referred to in this announcement have not been and will not be registered under the U.S. Securities Act of 1933 (the “ U.S. Securities Act ”) or any state securities laws of the United States and may not be offered or sold in the United States absent registration under the U.S. Securities Act or except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act. There will be no public offering of securities of the Company in the United States.
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YIXIN GROUP LIMITED 易鑫集团有限公司
(incorporated in the Cayman Islands with limited liability and carrying on business in Hong Kong as “Yixin Automotive Technology Group Limited”) (Stock Code: 2858)
STABILIZING ACTIONS, END OF STABILIZATION PERIOD AND LAPSE OF OVER-ALLOTMENT OPTION
Stabilizing Actions and End of Stabilization Period
The Company announces that the stabilization period in connection with the Global Offering ended on December 9, 2017, being the 30th day after the last day for lodging applications under the Hong Kong Public Offering. The stabilizing actions undertaken by UBS AG Hong Kong Branch, as the Stabilization Manager, or any person acting for it during the stabilization period were:
(1) over-allocations of an aggregate of 131,802,000 Shares in the International Placing, representing 15% of the total number of the Offer Shares initially available under the Global Offering (before any exercise of the Over-allotment Option); and
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- (2) successive purchases of an aggregate of 131,802,000 Shares in the price range of HK$6.50 to HK$7.70 per Share (exclusive of brokerage of 1%, SFC transaction levy of 0.0027% and Stock Exchange trading fee of 0.005%) on the market during the stabilization period. The last purchase made by the Stabilization Manager on the market during the stabilization period was on November 28, 2017 at the price of HK$7.06 per Share (exclusive of brokerage of 1%, SFC transaction levy of 0.0027% and Stock Exchange trading fee of 0.005%).
Lapse of Over-allotment Option
The Joint Global Coordinators did not exercise the Over-allotment Option during the stabilization period and the Over-allotment Option lapsed on December 9, 2017.
STABILIZING ACTIONS AND END OF STABILIZATION PERIOD
The Company announces that the stabilization period in connection with the Global Offering ended on December 9, 2017, being the 30th day after the last day for lodging applications under the Hong Kong Public Offering. The stabilizing actions undertaken by UBS AG Hong Kong Branch, as the Stabilization Manager, or any person acting for it during the stabilization period were:
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(1) over-allocations of an aggregate of 131,802,000 Shares in the International Placing, representing 15% of the total number of the Offer Shares initially available under the Global Offering (before any exercise of the Over-allotment Option); and
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(2) successive purchases of an aggregate of 131,802,000 Shares in the price range of HK$6.50 to HK$7.70 per Share (exclusive of brokerage of 1%, SFC transaction levy of 0.0027% and Stock Exchange trading fee of 0.005%) on the market during the stabilization period. The last purchase made by the Stabilization Manager on the market during the stabilization period was on November 28, 2017 at the price of HK$7.06 per Share (exclusive of brokerage of 1%, SFC transaction levy of 0.0027% and Stock Exchange trading fee of 0.005%).
LAPSE OF OVER-ALLOTMENT OPTION
The Joint Global Coordinators did not exercise the Over-allotment Option during the stabilization period and the Over-allotment Option lapsed on December 9, 2017.
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PUBLIC FLOAT
Immediately following the completion of the Global Offering, assuming the options granted under the Pre-IPO Share Option Scheme that remain unexercised immediately following the completion of the Global Offering are not exercised and no Shares are granted under the First Share Award Scheme, the number of Shares in public hands represents not less than 22.99% of the total issued share capital of the Company which satisfies the minimum percentage prescribed in the conditions imposed in the waiver granted by the Stock Exchange from strict compliance with Rule 8.08(1) of the Listing Rules.
By order of the Board Yixin Group Limited Andy Xuan Zhang Chairman
Hong Kong, December 10, 2017
As at the date of this announcement, the Board of Directors of the Company comprises Mr. Andy Xuan Zhang as Chairman and Executive Director and Mr. Dong Jiang as Executive Director, Mr. James Gordon Mitchell, Mr. Jimmy Chi Ming Lai, Mr. Chenkai Ling and Mr. Xuyang Zhang as Non-executive Directors, and Mr. Tin Fan Yuen, Mr. Chester Tun Ho Kwok and Ms. Lily Li Dong as Independent Non-executive Directors.
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