China

China

Goldwind shares resume trading following listing announcement

CHINA: Goldwind shares have resumed trading following the company's announcement of plans to raise a around CNY 363 million ($59 million) in A-shares on the Shenzhen stock exchange.

The announcement follows last week's suspension of Goldwind shares on both the Hong Kong Stock Exchange and the Shenzhen Stock Exchange.

Only a company based on China's mainland can be listed on the Shanghai and Shenzhen stock exchanges. The result is an A-share, which is traded in Chinese yuan.

The same company may also be listed on the Hong Kong stock exchange, but this will result in an H-share that is traded in other currencies, such as HK dollars or US dollars.

The Goldwind A-shares shares will be sold non-publicly to eight of the company's top managers and two collective asset management programs.

Around 41 million shares will be priced at CNY 8.87 ($1.4) per share. Of that, 10.38% will be purchased by individual managers.

The decision needs be approved later by Goldwind A-shares holders. And the plan will be finalised by approval from the China Securities Regulatory Commission, the country's securities watchdog.

Goldwind A-shares (code: 002202) resumed trading at the Shenzhen Stock Exchange with a climb of more than 5% on Wednesday morning.

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