Zhongtai Securities completes A-share offering, guarantees subsidiary debt

Zhongtai Securities Company Limited successfully completed its A-share issuance to specific subscribers, raising a total of CNY 5,999,999,994.80. The issuance involved 996,677,740 shares, with its controlling shareholder, Zaozhuang Mining (Group) Co., Ltd., subscribing to 36.09% of the offering. This strategic move aims to optimize the company's capital structure and enhance its market competitiveness.

In a related development, Zhongtai Securities has also provided a guarantee of HK$15,000,000 to its wholly-owned overseas subsidiary, Zhongtai Financial International Limited, for a 12-month period. This guarantee, facilitated through a standby letter of credit from China Merchants Bank Jinan Branch, brings the total outstanding guarantee amount for Zhongtai Financial International Limited to HK$100,000,000.

Both actions align with the company's operational strategy, ensuring sufficient capital for business development and mitigating financial risks. The guarantee is deemed necessary to support the subsidiary's overseas operations and has been approved by the board and shareholders.