Norinco International raises $960m in A-share private placement

Norinco International Cooperation Company Limited (SZSE:000065) has completed its 2024 non-public offering of A-shares, as confirmed by CITIC Securities Company Limited on December 25, 2025. The offering issued 90,056,285 shares at 10.66 yuan per share, raising a total of 959,999,998.10 yuan. After deducting issuance expenses, net proceeds amounted to 956,424,473.31 yuan.

The issuance was approved by the China Securities Regulatory Commission and the Shenzhen Stock Exchange, with a legal opinion confirming compliance. Fourteen institutional and individual investors participated, including Nord Fund Management Co., Ltd., which acquired 22,701,688 shares for 241,999,994.08 yuan, and Cathay Fortune Fund Management Co., Ltd., with 18,302,063 shares for 195,099,991.58 yuan.

All shares issued are subject to a six-month lock-up period. The raised capital will primarily be allocated to the Komarnica 125MWp photovoltaic project in Bosnia and Herzegovina and to supplement working capital, optimizing the company's capital structure and strengthening its financial resilience.