China Fertilizer Industry Successfully Lists the First Sinochem Fertilizers Listed Overseas
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Before the acquisition was completed, Sinochem Fertilizer was the core enterprise of Sinochem Corporation. It is a leading fertilizer supplier and a major phosphate and compound fertilizer producer in China's fertilizer industry. It has always maintained its position as the main importer of fertilizers and its marketing network. Covering all major agricultural provinces in the country, the business scope covers all links from R&D, production, import and export to domestic marketing, and has formed a business structure integrating the integration of upstream and downstream industries and upstream and downstream industries to ensure the supply of China's fertilizer market and promote agriculture. Healthy development plays an important role.
Last year it was reportedly requested by the State Council for approval that Sinochem sold Sinofert’s assets to its wholly-owned subsidiary, Sinochem Hong Kong (Group) Co., Ltd. (referred to as Sinochem Hong Kong Group), in order to seek opportunities for listing in Hong Kong. . On January 28th this year, Sinochem Hong Kong Holdings and its major shareholder, Sinochem Hong Kong Group, issued a joint announcement announcing the formal acquisition of Sinofert, which was approved by the Hong Kong Stock Exchange and the Hong Kong Securities Regulatory Commission on June 13th. On the 5th of the same day, it was approved by the Sinochem Hong Kong Holdings Extraordinary General Meeting of Shareholders. By July 20th, the management global road show and the share offering had received multiple subscriptions, and the entire acquisition project was successfully completed. After the acquisition, Sinochem Corporation, as the ultimate controlling shareholder, owns approximately 66% of the listed company.
Fertilizer business is one of the core businesses of Sinochem Corporation. At present, Sinofert is China's largest integrated fertilizer, fertilizer, production and sales enterprise. The most important change in the ownership structure of listed companies is the introduction of Potash Corporation, the world's largest potash fertilizer producer, as a strategic investor. It owns 9.99% of the total share capital of listed companies after completion of the acquisition, and can increase its shareholding in the next three years. To 20%. According to Liu Deshu, president of Sinochem Corporation and chairman of Sinochem Hong Kong, the introduction of Potash Corporation as a strategic investor is a focus of Sinochem's current situation of serious shortage of potash fertilizer resources in China. It enhances and strengthens international strategic alliances through capital ties and utilizes international resources. Important strategic measures for the healthy development of domestic fertilizer supply and agricultural production.
Regarding the use of approximately HK$2 billion in funds raised during the listing, Liu Deshu said that as the government has paid great attention to the issue of “agriculture, rural areas and farmers†in recent years, domestic demand for high-quality fertilizers has increased, and the business environment and future development of the fertilizer industry will become more and more it is good. Sinochem Hong Kong will continue to consolidate and strengthen its market leadership in China's fertilizer industry, expand and strengthen Sinochem's chemical fertilizer business, create wealth for the country, create value for shareholders, and make more solutions to China's “three rural issues†problem. Big contribution.
