Sante Ropeway intends to issue non-public stocks with a fund-raising of no more than 3.9.1 billion

Sante Ropeway intends to issue non-public stocks with a fund-raising of no more than 3.9.1 billion
On March 15, Wuhan Sante Ropeway Group Co., Ltd. (hereinafter referred to as “Sante Ropeway”) issued a plan for the non-public issuance of A shares in 2020, with a planned raise of no more than 3.US $ 9.1 billion in capital to optimize the company ‘s capital structure, supplement working capital, and reduce the adverse impact of the new coronary pneumonia epidemic on the company.The announcement shows that the number of non-public issuance of shares of Sande Ropeway does not exceed 41.6 million shares, accounting for 30% of the total share capital before the issuance, all of which are subscribed in cash by Sande Ropeway controlling shareholder Wuhan Contemporary Urban Construction Development Co., Ltd.After deducting the issuance expenses, the raised funds will be used to repay bank loans and supplement working capital.Three special ropeway said that during the outbreak of the new coronary pneumonia, the company’s business operations have been adversely affected.At present, Sante Ropeway is developing various direct financing channels, applying for government subsidies and other policy funds, and communicating with relevant parties on alternatives such as tax reductions, management fees, and financial institution policy support.It is understood that after the fund-raising is in place, the working capital pressure of Sante Ropeway will be effectively alleviated.At the same time, by repaying bank borrowings, the company’s asset-liability ratio will be reduced, which will help reduce operational risks and financial risks, and enhance the ability to continue operations.The data shows that in the last three years and the first period, the asset-liability ratio of Sante Ropeway was 66 respectively.47%, 67.49%, 65.92% and 62.4%.Sauna, Ye Wang Zheng Yijia editor Wang Sheng boys proofread Li Ming picture Sante Ropeway official website screenshot