Anhui Expressway plans H-share issuance to bolster capital

Anhui Expressway has announced its intention to issue 49,981,889 new H shares to its parent's (Anhui Provincial Communications Holding Group) Hong Kong subsidiary, Anhui Provincial Communications Holding Group (Hong Kong) Co., Ltd., in a move designed to bolster the company's capital base. The shares will be priced at HKD 10.45 each, raising total gross proceeds of HKD 522,310,740.05. The proceeds are earmarked for investment in the company's core expressway business (50%) and to cover H-share dividend payments to mitigate potential exchange rate losses (50%). This issuance constitutes a related transaction, with the parent company’s stake increasing by 2%.