Chinese Company Hangzhou GreatStar Industrial Lists its GDRs on SIX Swiss Exchange

Today, Hangzhou GreatStar Industrial Co., Ltd., Hangzhou (PRC) (Ticker "GSI") becomes the eighth company to list Global Depository Receipts (GDRs) on SIX Swiss Exchange.

Chinese Company Hangzhou GreatStar Industrial Lists its GDRs on SIX Swiss Exchange
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Hangzhou GreatStar Industrial Co., Ltd. placed 11,812,700 GDRs at an offer price of USD 13.08 per GDR, with one (1) GDR representing an interest in five (5) A-shares of the company. The A-shares of the company are listed on the Shenzhen Stock Exchange. Hangzhou GreatStar Industrial Co., Ltd. raised gross proceeds of approximately USD 154.5 million from the GDRs offering.

Hangzhou GreatStar Industrial Co., Ltd. is a global tool company which has built a portfolio of tool brands, some with an operating history of over a hundred years, such as ARROW, PONY JORGENSEN, Goldblatt, BeA, Shop-Vac and SK. The product portfolio mainly consists of hand tools, storage cabinets, power tools and laser measurements. The products are offered mainly in the European and North American consumer markets. The company was founded in 2008 and is headquartered in Hangzhou.

More information about the company is available here.

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SIX operates and develops infrastructure services for the Swiss and Spanish Stock Exchanges, for Post-Trade Services, Banking Services and Financial Information with the aim of raising efficiency, quality and innovative capacity across the entire value chain of the Swiss and Spanish financial centers. The company is owned by its users (120 banks). With a workforce of 4,044 employees and a presence in 20 countries, it generated operating income of CHF 1.5 billion and Group net profit of CHF 185.0 million in 2022.
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