Securities Times reporter Yang Lihua
Two months after the suspension of the domestic fixed-income project, Shenda (600626) issued a new non-public offering plan.
According to the “2017 Non-public Issuance of A Shares Stock Planâ€, the number of non-public A shares issued by no more than 10 (including 10) specific investors including Shenda Group, the controlling shareholder of the company, does not exceed 142,008,500 shares. The number of shares subscribed by Shenda Group is 31.07% of the total amount of shares issued, and the total amount of funds raised is not more than 2.156 billion yuan (including the issuance expenses). The proceeds will be used to acquire the ST&A of IAC Group after deducting the relevant expenses. Trim and Acoustic Components Business Assets) Business-related assets, IAC Group intends to inject the above assets into the new Auria Company, and Shenda shares subscribes for 70% of the shares of Auria through Shenda UK. In the fundraising investment project, the transaction consideration for the 70% share of Auria is US$310.8 million. In March of this year, Shenda shares just suspended another fixed increase project.
According to the 2017 Non-Public Issuance of A Shares Stock Plan, the transaction target of this acquisition is 70% of the B1 company established by IACG SA for the sale of ST&A business-related assets. B1 Company owns the following assets injected by IACG SA: US 9 100% equity of a company, 100% equity of a Belgian company, 100% equity of a Polish company, 100% equity of a South African company, 51% equity of a South African joint venture company, 45% equity of a Chinese joint venture company, 45% of a joint venture in the United States and soft assets and acoustic components business assets of 4 companies in the United States, soft and acoustic components business assets of 1 Czech company, soft parts and acoustic components of a German company Assets, soft components and acoustic components business assets of a Luxembourg company, soft components and acoustic components business assets of a Spanish company, soft components and acoustic components business assets of one UK company and soft of three Mexican companies Trim and acoustic components business assets.
It is worth noting that among the three Mexican companies mentioned in the Assets Package for the 2017 Non-Public Issuance of A Shares, only IACNA Mexico Service Company, S. de. RL de CV and IACNAHermosillo, S. de are listed. RL de CV two companies, one less. However, the company's securities department insisted that the recent announcement should prevail.
According to the data, IAC is the world's leading supplier of automotive interior components. Founded in 1988, IAC Group has grown to become the world's third largest supplier of automotive interior components and the only global supplier focused on interiors. The ST&A business is a strong segment of the IAC Group, with a history of more than 100 years, providing automotive soft and acoustic components to major OEMs in the global automotive industry such as GM, BMW, Daimler and Ford. Shenda announced that it has acquired anti-monopoly review of the assets related to the automotive soft and acoustics business under IACG SA.
In December last year, when Shenda’s major asset purchase plan was issued, another fixed project of Shenda’s shares was underway. In August 2016, the company adjusted the fixed-income plan. The company plans to increase the amount by no less than 10.53 yuan/share to not more than 10,736,600 shares, and the fund-raising will not exceed 1.131 billion yuan. Among them, 446 million yuan for carbon fiber and its prepreg production projects (total investment of 540 million yuan), 48.90 million yuan for the automotive decoration parts business Shenyang production base phase II project (total investment of 65.01 million yuan), 56.802 million Yuan is used in the third phase of the Shenyang production base of automobile decoration parts business (total investment of 751.73 million yuan), 43.395 million yuan for the Ningbo decoration production base of automobile decoration parts business (total investment of 45.2 million yuan), and 226.1 million yuan for capital increase CR Company acquired CRFI's 100% equity project (with a total investment of 226,176,000 yuan) and RMB 309.5 million for the acquisition of NYX's 35% equity project (total investment of 30,951,601 yuan). CR's capital increase and acquisition of PFI's 100% stake is estimated at $35.55 million, and the acquisition of NYX's 35% stake is estimated at $48.656 million. The company believes that after the implementation of the fundraising project, it will help promote the strategic transformation of the textile import and export business and improve the supporting and service capabilities of the automotive interior business.
But this program was discontinued in March 2017. The company announced that the reason for the suspension of the program was: "Since the release of the non-public offering plan, the refinancing policies and regulations, the capital market environment, and the timing of financing have undergone many changes." However, the company does not deny the ongoing The acquisition of ST&A business-related assets of IACG SA is the direct reason for submitting an application for suspension of application to the China Securities Regulatory Commission. At present, Shenda shares have fallen below 10 shares.
Shenda shares and leading shares belong to Shanghai Textile Group. From the perspective of business scope, Shenda is mainly engaged in textile import and export trade, automotive interiors and new materials. Leading stocks focus on fashion apparel home textile brands and engage in fabric management and textile international trade. In terms of internationalization, Shenda shares were given heavy responsibility. It is understood that the acquisition of ST&A business related assets of IACG SA is not the end of the internationalization of Shenda shares, and there will be other important international acquisitions this year.
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