Public Offering of Convertible Corporate Bonds | STEP Receives Approval from the CSRC
2017-06-08
Approved
On June 6, 2017, the Main Board Issuance Review Committee of the China Securities Regulatory Commission (hereinafter referred to as “CSRC”) reviewed the application submitted by Shanghai STEP Electric Co., Ltd. (hereinafter referred to as “the Company”) for a public offering of convertible corporate bonds.
Based on the review results, the company’s application for a public offering of convertible corporate bonds has been approved. However, this public offering of convertible corporate bonds still requires formal approval from the China Securities Regulatory Commission (CSRC). The company will issue a separate announcement once it receives the approval document from the CSRC.
Issuance Matters
· The securities to be issued this time are convertible corporate bonds that can be converted into the company’s A-share stocks. These convertible corporate bonds and the A-share stocks resulting from future conversions will be listed on the Shenzhen Stock Exchange.
· The total amount of funds to be raised through the issuance of convertible corporate bonds this time shall not exceed RMB 8,825.057 million (inclusive).
· Each convertible corporate bond issued this time has a face value of RMB 100 and is issued at par value.
· The term of the convertible corporate bonds issued this time is six years from the date of issuance.
About STEP
Shanghai STEP Electric Co., Ltd. was founded in 1995 and operates under the registered trademark STEP. It is a key high-tech enterprise receiving national support and a nationally recognized innovative enterprise, with a state-approved Enterprise Technology Center. STEP Electric has a postdoctoral research workstation, and its technology center laboratory holds national CNAS accreditation and has passed U.S. UL certification. In December 2010, STEP Electric made its initial public offering of A-shares on the Shenzhen Stock Exchange and was listed; its stock abbreviation is “STEP Electric,” and its securities code is 002527.
STEP—An expert in electrical drives and motion control, with business spanning robotics and motion control, elevator control and IoT, energy conservation, and industrial drives. Its main products include industrial robots, servo drives, high-, medium-, and low-voltage inverters of various types, integrated drive controllers, elevator control and drive systems, and Xingchen IoT solutions. These products are widely used in industries such as elevators, port machinery, lifting equipment, rubber and plastics processing, coal mining, metallurgy, power generation, machine tools, packaging, logistics, 3C electronics, home appliances, and automotive components.
STEP Partial Application Project: Control - Drive - Inverter - Robot
Contact Us
Email:
market@stepelectric.com
Address:
No. 1560, Siyi Road, Jiading District, Shanghai Municipality