Absen publicly issued 15.47 million new shares at an issue price of 18.43 yuan per share

Absen (300389.SZ) announced on Wednesday that the issuance price is 18.43 yuan per share. The planned number of shares to be issued is 19.66 million shares, accounting for 25% of the company's total share capital after the issuance. This public issuance of stocks includes the company's public issuance of new shares and the company's shareholders' public offering of shares (i.e., the transfer of old shares), including the public issuance of 15.47 million new shares and the public offering of 4.19 million shares by the company's shareholders. This issuance will be implemented through the Shenzhen Stock Exchange trading system and offline issuance electronic platform on July 24, 2014 (T day). The issuance price of 18.43 yuan per share corresponds to a diluted price-to-earnings ratio of 13.16 times in 2013, which is lower than the average static price-to-earnings ratio of comparable listed companies in 2013 of 56.38 times, and lower than the industry's average static price-to-earnings ratio in the past month. The issuer’s planned capital requirement for this fundraising project is 260.6617 million yuan. Based on the issuance price of RMB 18.43 per share and the number of new shares issued of 15.47 million, the total amount of funds raised is RMB 285.1121 million. After deducting the issuance expenses of RMB 24.4504 million borne by the issuer, the net amount of funds raised is RMB 260.6617 million. After deducting the issuance expenses, the company plans to invest the funds raised in this issuance into the following three projects: investing 145.881 million yuan in LED display construction projects; investing 59.9516 million yuan in LED lighting product construction projects; investing 59.9516 million yuan in LED lighting product construction projects.