Sinoma Science & Technology's private placement has been completed, with well-known investor Ge Weidong securing an allocation of approximately 700 million yuan at the highest bid of the session, making him the company's fifth largest shareholder. According to the company's announcement on the evening of October 8, a total of 87.1819 million shares were issued to 15 subscribers at 51.40 yuan per share, raising 4.481 billion yuan. Ge Weidong submitted three bids of 59.15 yuan, 57.85 yuan, and 56.55 yuan, with 59.15 yuan being the highest bid of the day, and was ultimately fully allocated 13.6187 million shares with a six-month lock-up period. Wang Ping, who is closely associated with him, had entered the market earlier, becoming a top ten shareholder in the first half of the year. After this issuance, the two together hold 21.0826 million shares, worth approximately 1.097 billion yuan based on the closing price of 52.01 yuan per share on October 8. Institutions were the main subscribers, with E Fund Management becoming the largest subscriber at 1.022 billion yuan, while Caitong Fund and Nuode Fund contributed 485 million yuan and 427 million yuan respectively. China United Investment, a wholly-owned subsidiary of the actual controller China National Building Material Group, was allocated 820 million yuan, constituting a related-party transaction with an 18-month lock-up period.
Sinoma Science & Technology Co LtdSinoma Science & Technology completed a 4.481 billion yuan private placement at 51.40 yuan/share, with notable investor Ge Weidong allocated ~700 million yuan and becoming fifth largest shareholder.
China United Investment, a wholly-owned subsidiary of China National Building Material Group, was allocated 820 million yuan in Sinoma's private placement as a related-party transaction.
E Fund Management was the largest subscriber in Sinoma's private placement, contributing 1.022 billion yuan.
Nuode Fund subscribed 427 million yuan in Sinoma's private placement.
Caitong Fund subscribed 485 million yuan in Sinoma's private placement.
