On October 13, 2017, Shenzhen Stock Exchange (“SZSE”) granted permission to the private placement of innovation and entrepreneurship convertible bonds of BlueSky Environmental Protection& Technology Co., Ltd. as applied for by Huafu Securities.
BlueSky Environmental Protection& Technology Co., Ltd., a company listed on the innovative board of the National Equities Exchange and Quotations (“NEEQ”), shall issue not more than CNY150 million of innovation and entrepreneurship convertible bonds with a duration not exceeding 3 years. The bonds shall enter a conversion period 6 months after their issuance. During the 2 declaration periods as prescribed in the bond prospectus, bondholders may apply to convert the bonds into stocks of the issuer. As per the Guidance of China Securities and Regulatory Commission on Launching Pilot Bond Projects by Innovative Companies and Start-ups, and the Rules for Private Placement of Convertibles Bonds by Innovative Companies and Start-ups (for Trial Implementation) as jointly promulgated by SZSE, NEEQ and China Securities Depository and Clearing Co., Ltd. (“CSDC”), SZSE has assigned specific persons to attend to and approve the project in a responsive and prompt manner. Meanwhile, NEEQ has also made special personnel arrangement to attend and respond to the project.
BlueSky Environmental Protection& Technology Co., Ltd. is expected to complete the issuance of the first tranche of innovation and entrepreneurship convertible bonds within the next few days. Next, SZSE shall bring into full play the advantages of its bond market to serve the real economy, conduct specific training, improve its ability to serve innovative companies and start-ups during their offering of innovation and entrepreneurship bonds, and fulfill its duties to cultivate relevant bond markets. SZSE shall also, by drawing on the experience of approving the first innovation and entrepreneurship bonds, further detail the approving program and push forward the pilot project of innovation and entrepreneurship bond issuance in an orderly way.