Spinco
Offer Price and Listing Timetable
Hong Kong Stock Exchanges and
Clearing Limited and The Stock Exchange of Hong Kong Limited take
no responsibility for the contents of this announcement, make 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 announcement.
ZHEJIANG EXPRESSWAY CO., LTD
(A joint stock limited company incorporated in
the People's Republic of China
with limited liability)
(Stock code: 0576)
THE PROPOSED
SPIN-OFF AND SEPARATE LISTING OF THE SPINCO ON THE SHANGHAI STOCK EXCHANGE
OFFER PRICE AND LISTING TIMETABLE
The announcement is made by the Board of the Company pursuant to
Rule 13.09(2) of the Listing Rules and the inside information
provisions under Part XIVA of theSecurities and Futures Ordinance
(Chapter 571 of the Laws of Hong
Kong).
Reference is made to the announcement of the Company dated
2 May 2017 and 7 May 2013 (the "Announcements") in
relation to the Proposed Spin-off of the SpinCo by way of A Share
Listing of the SpinCo on the Shanghai Stock Exchange. Terms defined
in the Announcements shall have the same meanings herein, unless
the context otherwise requires.
The Board hereby announces that (i) the total number of shares
to be offered under the proposed initial public offering of the A
Shares of SpinCo in connection with the A Share Listing (the
"Offering"), is 333,333,400 shares, (ii) the offer price in
relation to the A Share Listing has been determined at RMB8.45 per share and (iii) subject to, among
other things, the approval of the Shanghai Stock Exchange and
completion of the Offering, dealings in the A Shares of the SpinCo
on the Shanghai Stock Exchange are expected to commence on
13 June 2017.
Shareholders and potential investors
should note that the Proposed Spin-off is subject to, among other
things, the approval of the Shanghai Stock Exchange and the
completion of the Offering. There is no assurance that the Proposed
Spin-off will take place or as to when it may take place.
Accordingly, Shareholders and potential investors are reminded to
exercise caution when dealing in the securities of the Company.
On behalf of the
Board
Zhejiang Expressway Co., Ltd.
ZHAN
Xiaozhang
Chairman
Hangzhou, the PRC, 23 May 2017
As at the date of this announcement,
the executive directors of the Company are: Mr. ZHAN Xiaozhang, Mr. CHENG Tao and Ms. LUO
Jianhu; the non-executive directors of the Company are: Mr. WANG
Dongjie, Mr. DAI Benmeng, and Mr.
ZHOU Jianping; and the independent non-executive directors of the
Company are: Mr. ZHOU Jun, Mr. PEI Ker-Wei and Ms. LEE Wai Tsang,
Rosa.