HONG KONG--(BUSINESS WIRE)--National Agricultural Holdings Limited (“National Agricultural”, or together with its subsidiaries, the “Group”; stock code: 1236.hk) is pleased to announce that an aggregate of 141 million placing warrants have been successfully placed to not less than six placees, including CSI Capital Management Limited, China Orient Multi Strategy Master Fund and Value Extra Corporation at a placing issue price of HK$0.189 and an exercise price of HK$3.0 per placing warrant. After the introduction of Co-Op Funds, prominent investors are again showing support for National Agricultural. Meanwhile, Parko (Hong Kong) Limited (“Parko”), the controlling shareholder of the Group, also subscribed to over 212 million Placing Warrants at the same price and on the same terms, further demonstrating the controlling shareholder’s continuous support of the Group.
China Orient Multi Strategy Master Fund is a multi-strategy fund under China Orient Asset Management Corporation. Total assets managed by Orient Asset have reached approximately RMB 320 billion. It has a national service network of 25 branches and businesses located in major cities across China, serving more than 8 million clients.
CSI Capital Management Limited is a wholly-owned subsidiary of CITIC Securities Brokerage (HK) Limited. CITIC Securities is a major investment bank in China. With the outstanding performance of its main businesses of securities, investment banking and asset management, CITIC securities maintains a leading position in the capital market.
Net proceeds from the Warrants issue amounted to approximately HK$66.30 million. The exercise price is HK$3.0 per Warrant Share. The holders of the warrants can exercise the warrants within one year. Once the warrants are fully exercised, the shareholding of controlling shareholder National Agricultural will increase from the 51.05% to 52.55%. Other investors subscribing to the warrants will together hold a maximum of 6.66% of the shares while the Group will receive additional net proceeds of approximately HK1.061 billion. The proceeds will further strengthen the Company's financial position and facilitate future acquisitions, helping the Company to identify more high-quality acquisitions.
Mr. Chen Li-jun, Chairman of National Agricultural, said, “Facing the unprecedented evolution of the commercial environment of rural areas, we have actively captured vast opportunities that have arisen, including the consolidation of the high-quality agri-related enterprises of the national supply and marketing cooperatives system, as well as the establishment of China Agricultural Commodities Exchange, a trading platform for agricultural products, and the “Agripay” (農匯通) cash sweep system platform, to develop a nationwide Internet finance industry chain. We are confident that we will leverage the success of the placing to achieve long-term business growth in return for the trust and support bestowed to us by the investors.”
About National Agricultural Holdings Limited
National Agricultural Holdings Limited (SEHK code: 1236.HK) is a rural market-based company that integrates financial services, agri-related trade, information, industry and science research. Its principal businesses are rural financial services, trading in agricultural means of production, planning, operation and management on urbanization development and high-tech information technology, etc. These directives are fully implemented to accommodate China's strategic goal of vigorously developing “Agriculture, Rural Areas and Farmer” sector and a new model of urbanization. Hebei Supply and Marketing Cooperative made an equity investment in National Agricultural Holdings through its subsidiary Parko (HongKong) Ltd. in November 2013.