Gelonghui, April 26 | Tehai International (09658.HK) announced that the board of directors of the company has decided to continue the proposed dual major listing by recommending an initial public sale of American Depositary Shares representing the new common shares to be issued by the company on the US NASDAQ stock market.
On April 26, 2024, the company publicly submitted an F-1 registration statement notes to the US Securities and Exchange Commission regarding the sale. The registration statement has not yet taken effect.
The Board believes that the proposed dual listing (if carried out) will create an open market for American depository shares, expand the company's shareholder base, obtain additional capital, enhance the company's corporate image and influence in international capital and consumer markets, and further enhance share liquidity. The company will raise more capital through sales, mainly to enhance the brand and expand the global restaurant network.