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.