PROJECT

Projects

Summary of Investment Information

Project Number

35266

Company Name

CHINA EVERBRIGHT WATER LIMITED

Date SPI Disclosed

Jan 23, 2015

Country

China

Region

East Asia and the Pacific

Projected Board Date

Jan 13, 2015

Environmental Category

B - Limited

Status

Completed

Last Updated Date

Jun 1, 2023

Department

Regional Industry - INF Asia & Pac

Industry

Infrastructure

Previous Events

Approved : Jan 13, 2015
Signed : Jan 19, 2015
Invested : Apr 17, 2015

Sector

Water and Wastewater Utilities

Project Description

China Everbright Water Limited (“CEWL”, or the “Company”) (formerly: HanKore Environment Tech Group Ltd. “HanKore”), is incorporated in Bermuda and listed on the main board of the Singapore Stock Exchange (SGX U9E). CEWL focuses on water and environmental protection industries in China.

In June 2014 China Everbright Water Holdings Limited (“CEWHL”), a wholly owned subsidiary of China Everbright International Limited (“CEI”), entered into a conditional sale and purchase agreement with HanKore to sell the entire issued and paid-up capital of China Everbright Water Investment Limited (CEWIL) to HanKore for a total consideration of RMB5.81 billion (approx. US$94.6 million). The transaction was closed on December 12, 2014, and the enlarged HanKore was renamed to CEWL.

After the completion of this acquisition, CEWL engaged with strategic investors including IFC and proposed to issue common shares through private placement and applied for debt financing to support its restructuring and future growth.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation