Everbright International Completes Approximately HK$10 Billion Rights Issue with More Than 20% Oversubscription

22 September 2018, Hong Kong – China Everbright International Limited ("Everbright International" or the "Group") (SEHK: 00257), is pleased to announce that the Group has successfully completed a HK$10 billion rights issue. The rights issue, on the basis of 10 rights shares for every 27 existing shares at the subscription price of HK$6.00 per rights share, was over-subscribed by 373,341,319 rights shares, representing approximately 22.49% of the total number of 1,660,263,592 rights shares available for subscription under the rights issue. The Group raised net proceeds of approximately HK$9.912 billion from the rights issue.

In aggregate, a total of 231 valid acceptances and applications in respect of 2,033,604,911 rights shares had been received, representing approximately 122.49% of the total number of rights shares available for subscription under the rights issue. The sole underwriter is not required to take up any underwritten shares. Dealings in the fully-paid rights shares are expected to commence on the Stock Exchange of Hong Kong Limited at 9:00 a.m. on Monday, 24 September 2018.

Mr. Wang Tianyi, CEO of Everbright International, said, "With the inspiring performance of our rights issue, we appreciate the strong support of our investors and shareholders. Despite the pressure arising from the global capital market’s volatility we faced when promoting the rights issue plan, it was still well received by the market. This reflects that our investors and shareholders fully recognize Everbright International’s development strategies and management capabilities and are willing to take part in and support the Group’s future development and share its development results in the future. The Group values the trust and support from investors and has full confidence and determination to reward investors and society with faster business development and better financial performance."

Mr. Wang Tianyi continued, "China’s environmental protection industry is entering into an era where good money is driving out bad. Given that environmental management investment demand amounts to RMB2 trillion each year, including more than RMB5 billion worth of waste-to-energy projects investment demand, Everbright International will seize positive development opportunities and fully capitalize on the newly raised funds to prop up its project expansion and new business sector development. In this way, the Group will continue to improve its overall strengths and core competitiveness, fully execute the initiatives to boost scale and efficiency, strengthen the quality of services and brand, as well as drive growth through innovation and talent management, in order to steadily move towards the goal of developing into a world class ecological and environmental group."