CMA Logistics Co., Ltd.* A1a1 (A Joint Stock Limited Company Incorporated in the People’S Republic of China with Limited Liability)
Total Page:16
File Type:pdf, Size:1020Kb
IMPORTANT If you are in any doubt about this prospectus, you should consult your stockbroker, bank manager, solicitor, professional accountant or other professional adviser. CMA Logistics Co., Ltd.* A1a1 (A joint stock limited company incorporated in the People’s Republic of China with limited liability) Listing on A1a.15(1) The Growth Enterprise Market of The Stock Exchange of Hong Kong Limited Placing Number of Placing Shares : 55,000,000 Shares (comprising 50,000,000 Placing New Shares A1a.15(3)a to be offered by CMAL and 5,000,000 Sale H Shares to be offered by the Vendors) Placing Price : not more than HK$2.70 per H share and A1a15(3)c expected to be not less than HK$2.30 per H share Nominal value : Rmb1.00 each Stock code : 8217 Sponsor and Arranger ANGLO CHINESE CORPORATE FINANCE, LIMITED Sole Bookrunner and Sole Lead Manager China Everbright Securities (HK) Limited The Stock Exchange of Hong Kong Limited and Hong Kong Securities Clearing Company Limited take no responsibility for the contents of this prospectus, make R14.04 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 prospectus. A copy of this prospectus, together with the documents specified in the paragraph headed “Documents delivered to the Registrar of Companies in Hong Kong and available for inspection” in appendix VIII to this prospectus, has been registered by the Registrar of Companies in Hong Kong as required by Section 342C of the Companies Ordinance. The Securities and Futures Commission of Hong Kong and the Registrar of Companies in Hong Kong take no responsibility as to the contents of this prospectus or any of the other documents referred to above. CMA Logistics Co., Ltd. is incorporated and its business are primarily located in the PRC. Potential investors in CMA Logistics Co., Ltd. should be aware of the A1a66 differences in the legal, economic and financial systems between the PRC and Hong Kong and there are different risk factors relating to investments in the PRC-incorporated companies. Potential investors should also be aware that the regulatory framework in the PRC is different from the regulatory framework in Hong Kong and should take into consideration the different market nature of our H Shares. Such differences and risk factors are set out in section headed “Risk Factors” in this prospectus. The Placing Price is expected to be fixed by an agreement between CMA Logistics Co., Ltd. (for itself and on behalf of the Vendor) and China Everbright (for itself and on behalf of the other Underwriters) on or before the Price Determination Date, which is expected to be on or before 17 February, 2006 or such other date or time as may be agreed between CMA Logistics Co., Ltd. (for itself and on behalf of the Vendor) and China Everbright (for itself and on behalf of the other Underwriters) but in any event, not later than 12:00 noon on 20 February, 2006. The Placing Price will not be more than HK$2.70 per Placing Share and is currently expected to be not less than HK$2.30 per Placing Share. Applicants for the Placing Shares are required to pay brokerage of 1%, Stock Exchange trading fee of 0.005%, SFC transaction levy of 0.005%. China Everbright (for itself and on behalf of the other Underwriters), with the consent of CMA Logistics Co., Ltd. (for itself and on behalf of the Vendor), may reduce the indicative Placing Price range below that stated in this prospectus (which is HK$2.30 to HK$2.70 per Placing Share) at any time prior to 20 February, 2006 under the Placing. In such a case, CMA Logistics Co., Ltd. will, as soon as practicable following the decision to make such reduction, and in any event not later than 21 February, 2006, caused to be published in the GEM Website, the South China Morning Post (in English) and Hong Kong Economic Times (in Chinese) an announcement of such reduction. If, for whatever reason, CMA Logistics Co., Ltd. (for itself and on behalf of the Vendor) and China Everbright (for itself and on behalf of the other Underwriters) are unable to reach an agreement on the Placing Price on or before the Price Determination Date or such other date or time as may be agreed between CMA Logistics Co., Ltd. and China Everbright (for itself and on behalf of the other Underwriters) but in any event not later than 12:00 noon on 20 February, 2006, the Placing will not become unconditional and will lapse. In such event, CMA Logistics Co., Ltd. will issue an announcement to be published on the GEM Website. Prospective investors in CMA Logistics Co., Ltd. should note that China Everbright (for itself and on behalf of the other Underwriters) is entitled to terminate the obligations of the Underwriters under the Underwriting Agreement by notice in writing to CMA Logistics Co., Ltd. upon the occurrence of any of the events set forth under “Grounds for termination” in the section headed “Underwriting” in this prospectus at any time prior to 8:00 a.m. on the listing date, currently expected to be 23 February, 2006. The said events include those of a financial, political, industrial, economic, military, legal, fiscal and, or other nature (whether or not sui generis with any of the foregoing), which in the sole opinion of China Everbright (for itself and on behalf of the other Underwriters) shall have occurred, happened or come into effect and which, among other things, shall, will or is likely to have a material adverse effect on the success of or makes it inadvisable or inexpedient to proceed with the Placing. * For identification purpose only Co S342 16 February, 2006 CHARACTERISTICS OF GEM R14.05 GEM has been established as a market designed to accommodate companies to which a high investment risk may be attached. In particular, companies may list on GEM with neither a track record of profitability nor any obligation to forecast future profitability. Furthermore, there may be risks arising out of the emerging nature of companies listed on GEM and the business sectors or countries in which the companies operate. Prospective investors should be aware of the potential risks of investing in such companies and should make the decision to invest only after due and careful consideration. The greater risk profile and other characteristics of GEM mean that it is a market more suited to professional and other sophisticated investors. Given the emerging nature of companies listed on GEM, there is a risk that securities traded on GEM may be more susceptible to high market volatility than securities traded on the main board of the Stock Exchange and no assurance is given that there will be a liquid market in the securities traded on GEM. The principal means of information dissemination on GEM is publication on the GEM website operated by the Stock Exchange. Companies listed on GEM are generally not required to issue paid announcements in gazetted newspapers. Accordingly, prospective investors should note that they need to have access to the GEM website in order to obtain up-to-date information on GEM-listed issuers. —i— EXPECTED TIMETABLE A1a15(3)(f) 2006 (Note 1) PriceDeterminationDate ...................................... Friday, 17 February, A1a15(3)(k) Note 11 Announcement of final Placing Price and level of indication of interests in the Placing to be published in the GEM Website onorbefore........................................... Wednesday, 22 February, Allotment of Placing Shares to placees on or before ............. Wednesday, 22 February, Despatch of our H Shares certificates via CCASS A1a15(3)(g) on or before (Note 2) .................................... Wednesday, 22 February, Dealings in our H Shares on GEM expected A1a22 to commence on ......................................... Thursday, 23 February, Notes: 1. All references to time are to Hong Kong local time. In the event of any change to the expected timetable as set out in this prospectus, an announcement will be made accordingly. 2. The H Share certificates for the Placing Shares to be distributed via CCASS are expected to be deposited into CCASS on or before Wednesday 22 February, 2006 for credit to the relevant CCASS participants’ stock accounts of the Underwriters, the placees or their respective agents. No temporary documents of title will be issued. 3. Details of the structure and conditions of the Placing, including the conditions of the Placing, are set out in the section headed “Structure and conditions of the Placing” in this prospectus. 4. Investors will be informed by public announcement of any change to the above expected timetable. — ii — CONTENTS You should rely only on the information contained in this prospectus and the application forms to make your investment decision. We have not authorised anyone to provide you with information that is different from what is contained in this prospectus. Any information or representation not made in this prospectus and the application forms must not be relied on by you as having been authorised by us, the Vendors, the Sponsor, the Underwriters, the Directors or any other person involved in the Placing. Page Characteristics of GEM .................................................... i Expected timetable ....................................................... ii Summary ............................................................... 1 Definitions .............................................................. 18 Glossary of technical terms ..............................................