Wed, Sep 16, 2020 - 5:10 PM YIHAI Kerry Arawana (YKA), the Chinese unit of Wilmar International, has received final registration approval from t
Wed, Sep 16, 2020 – 5:10 PM
YIHAI Kerry Arawana (YKA), the Chinese unit of Wilmar International, has received final registration approval from the China Securities Regulatory Commission for its listing on the Shenzhen Stock Exchange’s ChiNext Board.
In a bourse filing on Wednesday, the group said that listing is expected to take place by mid-October.
Wilmar said the listing will be carried out through the issuance of new shares to YKA. These shares will account for not less than 10 per cent of YKA’s issued share capital on an enlarged basis, it added.
The group also disclosed that strategic investors – which constitute mainly state-owned funds, sovereign wealth funds and insurance companies – have been collectively identified to subscribe for approximately 30 per cent of YKA’s initial public offering (IPO) shares.
The final subscription size by the strategic investors, as well as the composition of the strategic investors, are still subject to final confirmation by the regulatory authorities, added Wilmar.
Although the final registration approval has been…