By Joe Hoppe

Zhejiang Yongtai Technology Co. stated it intends to cost its world depositary receipts at $9.41 every in its flotation in London on July 11, elevating round $70 million.
The Chinese effective chemical compounds manufacturer–which has been listed on the Shenzhen Stock Exchange since 2009–said every receipt represents 5 A shares of the corporate.

The providing consists of seven.4 million receipts, represents round 4.24% of the corporate’s excellent A share capital. Conditional buying and selling within the GDRs is anticipated to start instantly on a “when-issued” foundation, and unconditional buying and selling is anticipated to start out on July 11.
“The successful listing on the Stock Connect segment of the Main Market of the London Stock Exchange will help the Company to further expand its overseas business and increase its influence over international capital markets,” Chairwoman Yingmei Wang stated.
Write to Joe Hoppe at joseph.hoppe@wsj.com