(Yicai Global) June 21 -- Three more listed Chinese companies, including solar power giant Longi Green Energy Technology, intend to issue nearly CNY30 billion (USD4.2 billion) of global depository receipts and list them on the SIX Swiss Exchange.

Longi, Sichuan Road and Bridge Group, a highway and bridge builder in Chengdu, as well as Sanhua Intelligent Controls, a car parts maker, announced their overseas equity financing plans yesterday.

In 2022, some 42 Chinese firms revealed their plans to issue GDRs as the principal Swiss bourse was added to the overseas options, according to public information. So far 18 mainland-listed companies have been listed in Switzerland or the United Kingdom.

The solar module manufacturer has the largest target among the three as Longi aims to raise less than CNY20 billion for monocrystalline cell and module projects in China, Malaysia, and Vietnam, the Xi’an-based firm said.

Meanwhile, SRBG eyes up to CNY5 billion (USD695 million) via GDRs for two highway projects in Sichuan province, the construction of the Dhaka-Sylhet highway in Bangladesh. It will also replenish its working capital, it added.

Sanhua aims to raise up to USD700 million to build projects in Mexico, Poland, Thailand, and China, the Zhejiang province-based supplier of automotive thermal management components said.

Each GDR equals five A-shares for Longi and Sanhua whereas SRBG has not disclosed its numbers yet. Longi said that the new issuance will not exceed 8 percent of the firm's common shares or 607 million units before the addition. The ratio is up to 10 percent for SRBG or 872 million shares. Meanwhile, Sanhua would not add more than 6.43 percent of its current share capital, equaling 231 million shares.

The news failed to spur major stock price hikes as shares of Longi [SHA: 601012] dropped 2.6 percent to close at CNY27.99 (USD3.90).

SRBG's equity price [SHA: 600039] fell 1 percent to CNY9.55 (USD1.30).

Sanhua [SHE: 002050] dropped 1.8 percent to CNY30.94.

Editor: Emmi Laine