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Reminder. Closing today.
Issue statistics:
Offer size: 100.0m new shares
Public Tranche ? 3.0m shares
Placement Tranche ? 97.0m shares
Price: S$0.80
NTA per share (post-IPO): S$0.2664
Historical PE: 12.88x (FY06)
Market Cap (post-IPO): S$269.48m
Open: 10 Jul 2007
Close: 16 Jul 2007, 12.00noon
Trading: 18 Jul 2007 (on ?ready? basis)
Lead Manager: Stirling Coleman
China Sports International, which makes sports shoes and clothes, plans to raise $74.7 million in net proceeds through its initial price offering (IPO). The China-based firm priced its IPO at 80 cents a share, which is the top end of its 70-80 cents indicative range. It will offer 100 million new shares, representing 29.7 per cent of the enlarged share capital. Three million shares will be issued through public offer, while the remainder will be through private placement. The firm - which will have a market value of $269.5 million - aims to become among the top 10 sporting brands in China over the next two years as it expands into the domestic market, boosted by its new product line of thermal shoes, chief executive officer Lin Shaoxiong said in an interview last week. 'We expect the new product to boost our sales and profits significantly, as the margins are higher,' said Mr Lin in Mandarin
Listing Timetable
9.00 a.m. on 10 July 2007 Opening of Offer
12.00 noon on 16 July 2007 Close of Application List
17 July 2007 Balloting of applications, if necessary (in the event of over-subscription for the Offer Shares)
9.00 a.m. on 18 July 2007 Commence trading on a ?ready? basis
PER
Historical net PER based on the historical net EPS of our Group for FY2006 - 12.88 times
Historical net PER based on the historical net EPS of our Group for FY2006 - 13.07 times
assuming that the Service Agreements (as set out in the section?Service
Agreements? in this Prospectus) had been in place in FY2006