On December 15, Hebei Construction Group Corporation Limited rang the bell at the Hong Kong Stock Exchange, successfully entering the international capital market. It is reported that this is the first construction company from Hebei Province to be listed on the Main Board of the Hong Kong Stock Exchange.
It is reported that Hebei Construction Group Corporation Limited this time publicly offered 433.334 million shares globally. Based on the final offer price of HK$4.46, the expected gross proceeds from the global offering are HK$1.933 billion, which will be mainly used for construction engineering contracting projects, providing funds for equity investments under PPP projects, repaying bank loans, and other general corporate purposes. The joint sponsors of this offering are CICC and CMBI, and the joint global coordinators are CICC, CMBI, and Zhongtai International.
The stock abbreviation of Hebei Construction Group Corporation Limited is Hebei Construction, and the stock code is 01727.HK. It is understood that the company ranks first among construction companies in Hebei Province, and its growth rates of operating revenue and net profit both rank first among comparable companies listed in Hong Kong. The company has long been committed to general contracting of housing construction and infrastructure construction projects, providing integrated solutions. In 2017, it ranked 366th in the Top 500 Chinese Enterprises and 20th in the Top 80 Chinese Contractors. The company takes excellent performance as its outline and, with "cultural cohesion, strategic guidance, goal motivation, and organizational guarantee" as its抓手, has formed a replicable management model. Since 2015, it has successively undertaken 17 PPP projects, including the construction and supporting ancillary works of the new campus of Jizhou Middle School, and the government and social capital cooperation (PPP) projects for Tianjin Road and Taiyuan Road (including underground utility tunnels) and green space projects in Cangzhou City, with an investment amount exceeding 10 billion yuan, which will obtain greater investment returns for shareholders.
Li Baoyuan, Party Secretary and Honorary Chairman of Hebei Construction Group Corporation Limited, said that as an enterprise rooted in Hebei for 65 years, the coordinated development of Beijing-Tianjin-Hebei and the establishment of Xiong'an New Area will bring huge development opportunities for the company. Hebei Construction Group Corporation Limited will continue to take root in Hebei, deeply cultivate Hebei, keep a close eye on the integration of Beijing-Tianjin-Hebei and the construction of Xiong'an New Area, continuously optimize its qualification portfolio, expand its business network, continue to strengthen budget management, strengthen cost control, further enhance profitability, and help the province's construction industry reach a higher level.