Bluestar Adisseo raises €3bn in private placement

Bluestar Adisseo Company, with CITIC Securities and Morgan Stanley Securities (China) as joint lead underwriters, has concluded a private placement of 397,877,984 A-shares at €7.54 per share, raising a total of €2,999,999,999.36. The issuance received approval from the China Securities Regulatory Commission (CSRC) and the Shanghai Stock Exchange, with proceeds aimed at enhancing financial strength and supporting strategic growth initiatives. The issuance, which saw participation from 20 institutional and individual investors, complied with relevant laws and regulations, with all shares subject to a six-month lock-up period.

Bluestar Adisseo's board of directors approved the use of up to €2.1 billion of temporarily idle raised funds for cash management. These funds will be invested in highly secure, liquid, low-risk, and stable principal-guaranteed wealth management products with a maximum term of 12 months, including structured deposits, agreed deposits, notice deposits, large-denomination certificates of deposit, and income certificates. This strategy aims to optimize capital utilization while ensuring fund safety, without impacting the company’s core business or investment projects.

The board and management affirmed that these cash management activities align with the company's financial policies and regulatory requirements. The move is expected to boost overall profitability and shareholder value, with a robust risk control framework in place to monitor and mitigate potential market and and credit risks.