
don't trust me (got kopi $$$). Trust this...
SUBSCRIPTION/PURCHASE OF 30 MILLION SHARES IN CHINA TAISAN TECHNOLOGY GROUP HOLDINGS LIMITED.
http://info.sgx.com/webcorannc.nsf/37e9d50ee377b2304825735f00233861/3ef1e73a9b9104404825745c001193bd?OpenDocument
Date | Document Type | Document(Click to view/download) | Document Status |
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Prospectus | ChinaTaisan Final Clean Prospectus.pdf |
Registered |
CHINA TAISAN TECHNOLOGY GROUP HOLDINGS LIMITED
(Incorporated in the Republic of Singapore on 2 July 2007)
(Company Registration No. 200711863D)
Invitation in respect of 233,000,000 ordinary shares comprising 223,200,000 New Shares and 9,800,000 Vendor
Shares as follows:–
(a) 8,000,000 Offer Shares at S$0.24 each by way of public offer; and
(b) 225,000,000 Placement Shares at S$0.24 each by way of placement,
Applications should be received by 12.00 noon on 4 June 2008.
payable in full on application.
Closing on.......
Besides expanding R&D, the company will set up sales and servicing centres in Shanghai, Hong Kong and Xiamen, and boost marketing activity.
The company is one of China's leading manufacturers of knitted performance fabrics, used in sportswear and leisure apparel. Its sports fabrics boast various properties such as being antibacterial, odour-resistant and UV-resistant. It also makes and sells normal fabrics.
Its fabrics are used in the manufacture of apparel for various sportswear and leisure for reputable brands such as Umbro, Nike, Adidas, Reebok, FILA, Puma, Li-Ning, Anta, Septwolves and Lilang.
The knitted fabric maker launched its IPO of 233m shares at $0.24 apiece. The 233m shares comprise 223.2m new shares and 9.8m vendor shares. The IPO aims to raise net proceeds of $49.4m for the company, which it plans to use to acquire new equipment, expand research and development, set up new sales and service centres, fund general expenses and for working capital.
The offer consists of 8m public-offer shares and 225m placement shares. The invitation shares represent 25.11% of China Taisan's enlarged share capital and are offered at a historic FY07PER of 4.7x. Giving a breakdown, China Taisan said the bulk of the proceeds ($38.2m) will be used to acquire multi-track electronic tubular knitting machines, new face finishing and processing equipment to make peach finish fabrics, and computerised jacquard knitting machines.
For FY07, China Taisan reported a 388% yoy jump in net profit to RMB182.69m ($35.9m) from RMB37.4m, as revenue rose 265% to RMB810.87m from RMB222.1m due largely to higher sales of performance fabric.