Red Net: The president of Sany Group denied the rumors of listing in Japan, and the H-share issuance is still waiting

Source: Red Net

Red Network Changsha, March 15 (Xiaoxiang Morning News Rolling News Reporter Zhang Dongping) Sany Heavy Industry to Hong Kong to issue H shares is still waiting, Japan's "Yomiuri Shimbun" reported on the 13th that Sany Heavy Industry plans to be listed on the Tokyo Stock Exchange, making investors doubt the "appetite" of Sany Heavy Industry. Yesterday, Tang Xiuguo, president of Sany Group, officially responded to this: "Japan's Tokyo Stock Exchange did throw an olive branch to us, but we were not ambiguous this time and made it clear that we would not consider listing in Japan for the time being. ”
Tang Xiuguo said that the company's issuance of H shares in Hong Kong has entered the procedure.

　　
He received an invitation from the Tokyo Stock Exchange
　　
"(Listing in Japan) originated from the donation of 62 meters by Sany Heavy Industry last yearPump trucksParticipated in the Fukushima nuclear crisis relief. Tang Xiuguo, president of Sany Group, introduced that in March last year, the 9.0 magnitude earthquake in Japan triggered the Fukushima nuclear crisis, Sany Heavy Industry donated a 62-meter pump truck to participate in the water injection and cooling work, which made Japan very moved, so that all walks of life in Japan were impressed by the product quality and corporate strength of Sany Heavy Industry, and the Sany brand was also recognized. Since the second half of last year, relevant Japanese officials have heard that Sany Heavy Industry is planning to list H-shares, so they have repeatedly invited Sany Heavy Industry to IPO on the Tokyo Stock Exchange in Japan.
At the third meeting of the Fifth Sino-Japanese Friendship Committee for the 21st Century held in October last year, when Taizo Nishimuro, a member of the Japanese side and former chairman of Toshiba Corporation, met with Premier Wen Jiabao, the first thing he expressed was his gratitude to Sany for its aid to Japan. "Mr. Taizo Nishimuro came to Hunan, and while expressing his gratitude through Secretary Zhou Qiang, he also expressed his hope that Sany would consider listing in Japan." Nishimuro is also the chairman of the Tokyo Stock Exchange. Tang Xiuguo said, "We are very grateful for the invitation, but based on the actual situation of Sany, we really have no plans to list on the East Stock Exchange." ”
On February 14, Tang Xiuguo went to Japan to participate in the celebration of the 20th anniversary of the Nikkei, and the participating media also asked Tang Xiuguo whether Sany would consider listing on the Tokyo Stock Exchange. Tang Xiuguo said: "Considering that it was circumvented by the Hong Kong media three years ago, I was not ambiguous this time and made it clear that I would not discuss this issue because the company's board of directors did not discuss it." ”
As of the end of 2011, there were only 11 foreign companies listed on the Tokyo Stock Exchange, including only two Chinese-funded companies, compared with 127 foreign companies listed in 1991, when it was at its peak. "It is an honor for Sany to receive an invitation from the Tokyo Stock Exchange, but Sany is not considering listing in Japan for the time being, as our H-share listing plan has already entered the process."
　　
Still waiting for listing in Hong Kong
　　
The question of when Sany Heavy Industry will restart its H-share listing has also attracted much attention. In the fourth quarter of last year, Sany Heavy Industry promoted the IPO process, but it was suspended due to market volatility. In this regard, Tang Xiuguo said: "Some media reported that we will restart in the second quarter, to be honest, we have been waiting, maybe in the first half of the year, maybe in the second half of the year, maybe next year, we have to wait for a suitable time." ”
As for when is the "right time", Tang Xiuguo said: "This mainly depends on the price, the index is listed, and the price may not be able to go up." We have always been very optimistic about the growth of Sany, so we are reluctant to sell it cheaply, but this price must also be acceptable to investors, so we are still waiting. ”
Regarding the previous market rumors that there was a tension in Sany's capital chain, Tang Xiuguo said: "Not long ago, Sany also spent 324 million euros in cash to acquire Putzmeister Company, which participated in the Fukushima rescue, and it was with its own funds and no refinancing plan, which shows that our cash flow is still sufficient." ”
Tang Xiuguo said that in order to issue a suitable price, Sany has adjusted the issuance quota from 15% of the total share capital to less than 10%. "Because going public is only a need to implement an internationalization strategy, not a need to solve the thirst for capital."