CHINA EB LTD Surges Over 4% in Morning Trading on Plans for 20 Billion Yuan Debt Financing Instruments

Deep News09-29

CHINA EB LTD (00165) saw its stock price climb 4.26% in morning trading, currently trading at HK$12 with a turnover of HK$143 million.

CHINA EB LTD announced it has signed underwriting agreements with China Everbright Bank and Everbright Securities, planning to issue multi-variety debt financing instruments with a total amount not exceeding 20 billion yuan. This related-party transaction aims to raise funds through debt financing instruments to support the company's business development and capital operations. China Everbright Bank and Everbright Securities will serve as lead underwriters, responsible for organizing and coordinating the issuance.

Notably, recent market rumors regarding Shanghai Micro Electronics Equipment (SMEE) "backdoor listing" have resurfaced. According to an article published on Everbright Holdings' official account in May 2016, its subsidiary Everbright Qingdao successfully invested in Shanghai Micro Electronics Equipment Co., Ltd. in April 2016, with Everbright Holdings holding an 11.98% stake post-investment. Additionally, according to a research report, the company's typical investment cases in recent years include ACM Research, Shanghai Micro Electronics, among others. However, the institution noted in its research report that the above companies are historical investment projects, and some projects may have already been exited.

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