Property

Jujiang Construction Trading Debut, Share Price Rose 41% against Market Downturn, Highest Price of the Day was HK$2.01

HONG KONG, Jan. 12, 2016 /PRNewswire/ -- The largest construction company in Jiaxing, Zhejiang Province in terms of output value in 2014, Jujiang Construction Group Co., Ltd. ("Jujiang Construction", together with its subsidiaries, the "Group"; stock code: 1459), announced today its successful listing on the Mainboard of The Stock Exchange of Hong Kong Limited ("SEHK"). 

The Company's share price closed at HK$1.90 per share, which was approximately 40.74% higher than the Offer Price of HK$1.35 per share. The highest share price of the day was HK$2.01. On its first trading day, approximately 47.02 million shares changed hands with total turnover amounted to approximately HK$79.61 million.

Guotai Junan Capital Limited is the Sole Sponsor of the Global Offering. Guotai Junan Securities (Hong Kong) Limited is the Sole Global Coordinator, Sole Bookrunner and Sole Lead Manager of the Global Offering.

Commenting on the trading debut, Mr. Lv Yaoneng, Chairman, Executive Director and General Manager of Jujiang Construction, said, "The successful listing on the Hong Kong Stock Exchange marks an important milestone of Jujiang Construction. It is a proof of the Group's solid fundamental. The response also shows investors' confidence in our business development and future prospects. Our goal is to continue to capture greater market share in Zhejiang province and in other provinces and regions in China, as well as expand our presence overseas to become a leading construction contracting and design company in selected regions."

About Jujiang Construction Group Co., Ltd.

The Group is principally engaged in construction contracting business. It also provides design, survey and consultancy services to customers, as well as manufactures civil defense products. The Group is principally engaged in undertaking construction projects as a general contractor. During the Track Record Period, the Group completed a total of 550 construction projects, including residential construction projects, commercial construction projects, industrial construction projects and public works construction projects. The Group's construction projects were mainly located in Zhejiang Province, others were located in Jiangsu, Anhui, Shandong and Liaoning Provinces. According to Ipsos, Jujiang Construction was the largest construction company in Jiaxing, Zhejiang Province in terms of output value in 2014, holding a market share of 10.4%.

This press release is for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for the securities referred to herein. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States or any other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The securities referred to herein will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States except pursuant to an exemption from, or a transaction not subject to, the registration requirements of the Securities Act. Any public offering of securities to be made in the United States will be made by means of a prospectus. Such prospectus will contain detailed information about the company making the offer and its management and financial statements. The Company does not intend to make any public offering of securities in the United States.