Chinasoft International Ltd (CFTLF)

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Chinasoft International (00354) accepts listing counseling to accelerate the process of returning to A.

source
https://finance.sina.com.cn/stock/relnews/hk/2021-02-19/doc-ikftpnny8001707.shtml

February 19, 2021 13:08 Tencent Watchlist

Zhitong Finance App learned that according to the latest disclosure on the official website of the Shenzhen Securities Regulatory Bureau, Chinasoft International (00354) intends to issue depositary receipts for the first time and list on the domestic stock exchange. The company has accepted the guidance of Huatai United Securities and completed the filing with the Shenzhen Securities Regulatory Bureau.

This means that ChinaSoft International's process of returning to A is accelerating.

On January 26, ChinaSoft International issued an announcement that the company’s board of directors has approved the preliminary proposal for the possible issuance of China Depository Receipts and the listing of China Depository Receipts. The preliminary proposal is to issue no more than 15% of the total issued shares of the company. The proceeds from the domestic issuance are initially intended to be used for the company's cloud and other major businesses.

ChinaSoft International is a large-scale comprehensive software and information technology service provider in China. In the past two years, it has been included in Gartner's global IT service market share ranking TOP100, and IDC China's cloud management service market ranking TOP3. Founded in 2000, the company has maintained sustained rapid growth since its listing in 2003, with a compound revenue growth rate of 30%, and it has grown into a leading enterprise in the domestic IT service field.

Everbright Securities issued a report that if ChinaSoft International successfully issues CDRs and goes public, it will help strengthen its cash flow reserves and lay a better foundation for new business transformation and new customer cooperation. Refer to A-share computer index 21 At 47 times the annual PE, ChinaSoft International is expected to enjoy a higher valuation, and the target price of ChinaSoft International is raised to HK$15.2; Industrial Securities believes that ChinaSoft International’s issuance of depositary receipts is expected to accelerate cloud business and asset revaluation.