REG - Welkin China P.E. Ld - Extension to IPO Closing Date

CITIC Securities CoAnnouncement

26/09/2022 18:00

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RNS Number : 6935A  Welkin China Private Equity Limited  26 September 2022

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE
OR IN PART, INTO OR WITHIN THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH
AFRICA, New ZEALAND, ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA "EEA"
(OTHER THAN ANY MEMBER STATE OF THE EEA WHERE SECURITIES MAY BE LAWFULLY
MARKETED) OR ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR
DISTRIBUTION WOULD BE UNLAWFUL. ANY FAILURE TO COMPLY WITH THESE RESTRICTIONS
MAY CONSTITUTE A VIOLATION OF APPLICABLE SECURITIES LAWS.

Neither this announcement, nor anything contained herein, shall form the basis
of, or be relied upon in connection with, any offer or commitment whatsoever
in any jurisdiction. Investors should not subscribe for or purchase any
securities referred to in this announcement except on the basis of information
contained in the prospectus (the "Prospectus") published by Welkin China
Private Equity Limited in connection with the admission ("Admission") of
ordinary shares ("Ordinary Shares") to the premium listing segment of the
Official List of the Financial Conduct Authority (the "FCA") and to trading on
the premium segment of the main market of the London Stock Exchange plc (the
"London Stock Exchange").

WELKIN CHINA PRIVATE EQUITY LIMITED

("WCPE" or the "Company")

 

Extension to IPO Closing Date to Accommodate Asian Investors

 

Welkin China Private Equity Limited advises that the Board of Directors have
agreed to extend the Closing Date of the Company's proposed IPO to 31 October
2022. There has been significant interest in the IPO, particularly from
investors based in Asia, and extending the timetable will enable the Company
and Bookrunners to facilitate all such orders.

 

The last date for placing commitments under the Company Placing will be 5:00pm
on 28 October 2022 and Noon on 31 October 2022 for the Joint Bookrunner
Placing.

 

An updated indicative timetable is set out below:

 

 Latest time and date for placing commitments under the Company Placing    5:00 pm 28 October 2022
 Latest time and date for placing commitments under the Joint Bookrunner  Noon on 31 October 2022
 Placing
 Publication of results of the Initial Placing                            1 November 2022
 Initial Admission and dealings in Ordinary Shares commence               8:00 a.m. on 3 November 2022
 CREST Accounts credited with uncertificated Ordinary Shares              as soon as practicable after 8:00 a.m. on 3 November 2022

 

 

The Company reserves the right to extend the Closing Date or close the Offer
early without notice.

 

 

For further information:

 

Welkin China Private Equity (Via SEC Newgate)

Ivan Chu, Chairman

 

Welkin Capital Management (Asia) Limited (via SEC Newgate)

Jonathan Lau, Managing Director

 

SEC Newgate UK

Clotilde Gros / Bob Huxford / Jessica Hodson Walker / Molly Gretton

welkincapital@secnewgate.co.uk (mailto:welkincapital@secnewgate.co.uk) or +44
20 3757 6767

 

Deutsche Bank (Sole Sponsor and Sole Global Coordinator)

Jeffrey Wong / Mark Hankinson / Neil Coleman

+44 20 754 58000 / +852 2203 8888

 

CLSA Limited (Joint Bookrunner)

Michael Di / Rachel Sun

+ 852 2600 7744 / +852 2600 7820

 

finnCap Limited (Joint Bookrunner)

 Mark Whitfeld / Pauline Tribe (Sales)

+44 20 3772 4697 / +44 20 7220 0517

Monica Tepes (Research)

+44 20 3772 4698

William Marle (Corporate Finance)

+44 20 7220 0557

 

Huatai Financial Holdings (Hong Kong) Limited (Joint Bookrunner)

Ningwa Lau / Andrew Liao

+852 3465 3851 / +852 3658 6117

 

 

IMPORTANT NOTICE

This announcement is directed in the UK only at (i) persons having
professional experience in matters relating to investments who fall within the
definition of "investment professionals" in Article 19(5) of the Financial
Services and Markets Act 2000 (Financial Promotion) Order 2005; or (ii) high
net worth bodies corporate, unincorporated associations and partnerships and
trustees of high value trusts as described in Article 49(2) of the Financial
Services and Markets Act 2000 (Financial Promotion) Order 2005.

 

INFORMATION TO DISTRIBUTORS

Target Market Assessment

Solely for the purposes of the product governance requirements contained
within the FCA's PROD3 Rules on product governance within the FCA Handbook
(the "FCA PROD3 Rules") and disclaiming all and any liability, whether arising
in tort, contract or otherwise, which any "manufacturer" (for the purposes of
the FCA PROD3 Rules) may otherwise have with respect thereto, the Ordinary
Shares have been subject to a product approval process, which has determined
that such Ordinary Shares are: (i) compatible with an end target market of
retail investors and investors who meet the criteria of professional clients
and eligible counterparties, each as defined in FCA Glossary; and (ii)
eligible for distribution through all distribution channels as are permitted
by PROD3 (the "Target Market Assessment").

Notwithstanding the Target Market Assessment, distributors should note that:
the price of the Ordinary Shares may decline and investors could lose all or
part of their investment; the Ordinary Shares offer no guaranteed income and
no capital protection; and an investment in the Ordinary Shares is compatible
only with investors who do not need a guaranteed income or capital protection,
who (either alone or in conjunction with an appropriate financial or other
adviser) are capable of evaluating the merits and risks of such an investment
and who have sufficient resources to be able to bear any losses that may
result therefrom. The Target Market Assessment is without prejudice to the
requirements of any contractual, legal or regulatory selling restrictions.
Furthermore, it is noted that, notwithstanding the Target Market Assessment,
the Joint Bookrunners will only procure investors who meet the criteria of
professional clients and eligible counterparties.

For the avoidance of doubt, the Target Market Assessment does not constitute:
(i) an assessment of suitability or appropriateness for the purposes of the
FCA PROD3 Rules; or (ii) a recommendation to any investor or group of
investors to invest in, or purchase, or take any other action whatsoever with
respect to the Ordinary Shares.

Each distributor is responsible for undertaking its own target market
assessment in respect of the shares and determining appropriate distribution
channels.

PRIIPs Regulation

In accordance with the UK version of the EU PRIIPs Regulation (1286/2014)
which is part of UK law by virtue of the European Union (Withdrawal) Act 2018,
as amended and supplemented from time to time (the "UK PRIIPS Laws"), a key
information document in respect of an investment in the Ordinary Shares has
been prepared by the Company and is made available to investors at
www.welkinchinape.com.

Accordingly, if you are distributing Ordinary Shares, it is your
responsibility to ensure that the key information document is provided to any
relevant clients.

 

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