Home > Yangzijiang set to launch the first ever trading of shares in RMB on the SGX

Yangzijiang set to launch the first ever trading of shares in RMB on the SGX

Page 1
MEDIA RELEASE – FOR IMMEDIATE RELEASE
Yangzijiang set to launch the first ever trading of shares in RMB on the SGX
First company to trade its shares in RMB on SGX, in addition to its existing SGD counter on SGX dual currency trading platformAlso, it will be the first time any company on SGX will have its shares trading in RMBThe shares in RMB to commence trading from 9.00 a.m. on 5
th
August 2013 on the SGX
SINGAPORE – 25 July 2013 – Yangzijiang Shipbuilding (Holdings) Ltd (��Yangzijiang�� or ��the Group�� or �����ӽ���ҵ�ع����޹�˾��), one of PRC��s leading and most enterprising shipbuilder listed on the SGX Main Board, is pleased to inform that with effect from 9.00 a.m. on 5th August 2013, Yangzijiang��s shares will commence trading on Singapore Exchange (��SGX��) in Renminbi (RMB). Yangzijiang is set to be the first to launch dual currency trading in RMB on SGX dual currency trading platform. This will bring greater flexibility and convenience to investors wishing to invest in Yangzijiang��s shares in RMB. The Group is also pleased to inform that this will be the first time ever any company listed on SGX will have its shares being traded in RMB. Currently, Yangzijiang��s shares are quoted and traded only in Singapore Dollars (SGD). With the launch of dual currency trading of the shares, Yangzijiang will have a RMB counter in addition to its existing SGD counter. Once the RMB denominated shares start trading from 5th August onwards, investors will have the option to buy or sell in either RMB or SGD counters. Trades made in the SGD counter will be settled through SGX in SGD, while trades made in the RMB counter will be settled through SGX in RMB. Advantages from the Launch of the Dual Currency Trading Yangzijiang��s main area of operations is in China and the functional reporting currency is also RMB. There are many investors based in China mainland, Hong Kong and other Yangzijiang Shipbuilding (Holdings) Ltd 6 Battery Road, #39-02 Singapore 049909 (Co. Reg. No. 200517636Z)

Page 2
regions, who wish to invest in Yangzijiang��s shares using RMB and now with the dual currency trading platform, the investors have an opportunity to participate in the Group��s shareholding without the worry of foreign exchange risk or incurring charges during currency conversion. This move towards dual currency trading also provides the flexibility and convenience to investors to trade in Yangzijiang shares either in SGD or RMB.
��It is our honour to be given the opportunity to be the first company ever on SGX to have its shares traded in RMB. We would like to very sincerely thank SGX for all the support given to us and for the confidence that SGX has on us. Over the years, we have met many investors keen on investing in Yangzijiang, but through investments in RMB, and with this dual currency trading for our shares these investors have the convenience and flexibility to invest in Yangzijiang in a more cost effective manner. This counter will also give the opportunity to overseas investors to invest their RMB offshore in an easy and reliable way as Singapore remains an attractive avenue for overseas investors and as we remain confident of Yangzijiang��s performance.�� Mr Ren Yuanlin (��Ԫ��), Executive Chairman, Yangzijiang ��We are pleased that Yangzijiang will be the first company to have trading of its shares in RMB on SGX��s dual currency trading platform. As the Asian Gateway, we will continue to grow and enhance our suite of RMB and China-related products and services to ensure SGX remains the exchange of choice for issuers with RMB fund raising needs and for investors keen to participate in China��s growth story.�� Mr Magnus Bocker (����˼����), Chief Executive Officer, Singapore Exchange
Investors should take note of: - The traded prices for Yangzijiang shares in both SGD and RMB counters are determined by the market and as the shares traded in both counters are identical, the traded prices in both counters should be more or less equivalent to each other, taking into account the prevailing SGD/RMB exchange rate. - On the dividend part, registered shareholders of Yangzijiang will receive their dividend in SGD as Yangzijiang has been declaring the dividends in SGD. If the Group plans to change this policy, then necessary announcement will be made on the SGX-NET. - The shares in both the SGD and RMB counters are fungible. This simply means that one can buy the shares in SGD and sell in RMB and vice-versa.

Page 3
- Yangzijiang is not issuing any additional shares for this exercise, but just introducing an additional RMB counter to give investors more options to trade Yangzijiang shares. - Investors will not be able to do a contra-trade in the SGD and RMB counters as these are two separate trading counters. - The market value of the Yangzijiang shares in shareholders�� monthly CDP1 statement will be computed based on the last done price of the SGD counter regardless of whether the shares were purchased through the SGD or the RMB counters. --The End--
ABOUT YANGZIJIANG SHIPBUILDING (HOLDINGS) LIMITED (Bloomberg Ticker: YZJ SP) Established in 1956 and listed on SGX-Mainboard since April 2007, Yangzijiang Shipbuilding (Holdings) Limited (��Yangzijiang Shipbuilding�� or collectively known as the ��Group��) is the largest Chinese listed entity on SGX-Mainboard. Yangzijiang Shipbuilding is also one of the largest non- state-owned publicly listed shipbuilder by virtue of manufacturing capability in the PRC. Notably, the Group is the first Chinese shipyard to secure the 10,000 TEU containership orders in 2011. Yangzijiang Shipbuilding has evolved into an integrated marine service provider with core shipbuilding business and exposure in ship demolition and offshore industry. The Group��s niche lies in construction of commercial vessels ranging from containerships, bulk cargo carriers and multi-purpose cargo vessels. The Group owns three shipyards in Jiangsu Province, China along the Yangtze River, with total available capacity of 2.0 million CGT and total production area spanning approximately 400 hectares. The Group has also a wholly-owned ship demolition yard in Jiangsu Province, China with a total production capacity of 200,000 Light Displacement Tonnage (��LDT��). Going forward, the Group has plans to expand the production capacity to 600,000 LDT by 2015. Yangzijiang Shipbuilding partnered Qatar Investment Corporation, investment arm of Qatar sovereign fund, through a Joint Venture Agreement in 2011 to incorporate an offshore headquarter in Singapore and to establish an offshore construction base in Taicang city, China. The Group wishes to capitalize on the talent pool in Singapore to construct mega offshore structures in China, where the Group can further leverage on China��s cost efficiency, proximity to raw materials and labour. The offshore construction base sits on a land area of about 156 hectares with 1,500 meters of coastline. For more information please visit the website at: www.yzjship.com Issued for and on behalf of Yangzijiang Shipbuilding (Holdings) Limited By Financial PR Pte Ltd For more information, please contact: Romil SINGH / KEE Vern Cheng/ Kathy ZHANG Email: romil@financialpr.com.sg / verncheng@financialpr.com.sg / staff@financialpr.com.sg Tel: (65) 6438 2990 / Fax: (65) 6438 0064
1 The Central Depository (Pte) Limited

Set Home | Add to Favorites

All Rights Reserved Powered by Free Document Search and Download

Copyright © 2011
This site does not host pdf,doc,ppt,xls,rtf,txt files all document are the property of their respective owners. complaint#nuokui.com
TOP