On March 16, the two listed companies of China Pingmei Shenma Group, Pingmei Co., Ltd. and Shenma Co., Ltd., successfully issued convertible corporate bonds (hereinafter referred to as convertible bonds). The largest refinancing in the history of the group was also the largest single refinancing of a state-owned enterprise in Henan Province in recent years, which aroused strong repercussions in the capital market.
The picture shows the construction site of the group’s hydrogen ammonia project with a total investment of 2.3 billion yuan
The 2.9 billion yuan raised from the Pingdingshan Coal Convertible Bonds issued this time will be used for projects such as the intelligent construction and transformation of coal mines, and the 3 billion yuan raised from the Shenma convertible bonds will be used for the supporting hydrogen ammonia project of the nylon chemical industry and the annual production of 240,000 yuan. Tons of bisphenol A project (phase II), etc. As one of the important tools for direct financing, convertible bonds have both debt-like clauses for repayment of principal and interest and equity clauses for future share conversion expectations. They are highly recognized and enthusiastically sought after by the market. On the day of purchase on March 16, the public Investors purchased 10.2 trillion yuan of convertible bonds of Pingmei Co., Ltd. on the Internet, exceeding the total amount of subscription by more than 10,000 times.
The successful issuance of this convertible bond shows that Pingmei Shenma’s industrial restructuring and high-quality development achievements have won wide recognition from the capital market. At the same time, it also provides a positive and feasible practical model for improving the group financing system and enriching financing channels.
The path has played a positive and positive role in promoting Pingmei Shenma Group and even the capital market of Henan Province, and it is of great significance to lead the demonstration.
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