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Tradelink Announces Share Offer
Allotment Results
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Placing
Shares Approximately 9 Times Subscribed
Public Offer Shares Approximately 144 Times Subscribed
(Hong Kong, 26 October 2005) - Tradelink Electronic Commerce
Limited (“Tradelink” / the “Group”),
a leading provider of electronic commerce service for both the
Hong Kong and international business communities, today announced
its allotment results.
The international placing shares were significantly over-subscribed,
representing approximately 9 times the placing shares initially
available. For the public offer, the Group received valid applications
for 3,368,432,000 shares, equivalent to around 144 times of the
public offer shares originally available.
As a result of the strong response to the public offer, the clawback
mechanism has been applied. The final number of public shares
has gone up to 116,640,000 shares against a reduction of number
of placing shares to 116,640,000 shares. DBS Asia Capital Limited,
the Global Coordinator, Bookrunner, Lead Manager and Sponsor of
the listing, has also over-allocated 34,992,000 shares (equivalent
to the maximum number of shares available under agreement with
the Vendor, being FSI) to institutional investors under the placing
tranch.
Commenting on these encouraging results, Mr. Justin Yue,
CEO of Tradelink, said, “We are very pleased with
the response to the share subscription, we see it as a show of
confidence of the investing public in our business model and prospects.
As an important milestone for the Group, our listing on the Stock
Exchange of Hong Kong (“SEHK”) will provide us with
a strong impetus to further accelerate our overall business development.”
Based on the final offer price of HK$1.25 per share, the net
proceeds from the share offer amounted to approximately HK$57
million. As to HK$40 million of the amount raised will be used
by the Group to identify and develop new electronic services such
as the electronic submission of manifest and advance cargo information
in respect of cargoes carried by road mode of transport, and new
services relating to application of RFID (radio frequency identification)
technology in logistics. The remaining balance will be used as
general working capital.
“After our listing we will move on, not only to strengthen
our leading position in the Government Electronic Trading Services
market, but also to extend our presence and influence in the private
sector. In addition to the DTTN project, which will be launched
to the market soon, we are set to explore the huge development
potential in Mainland China. I look forward to witnessing more
rapid advances being made by the Group,” Mr. Yue concluded
Trading of shares of Tradelink will commence on 28 October 2005
(Friday) on the Main Board of the SEHK with stock code 536.
About Tradelink Electronic Commerce Limited
Established in 1988, Tradelink Electronic Commerce Limited is
a leading provider of trade-related electronic services for both
Hong Kong and international business communities. Over the years,
by perfecting its infrastructure and developing services that
meet users’ practical needs, Tradelink has earned the trust
of the trading community and built a superb reputation that underscores
its dominance in the public sector services. Besides, Tradelink
also offers a wide range of value-added services such as issue
of digital certificate for secured online transmission. It offers
a unique range of customer support solutions, designed specifically
to help customers gain maximum benefits from e-commerce. It makes
the use of electronic services as affordable, convenient and user-friendly
as possible for its customers. Tradelink has an unusually strong
shareholder background. Its shareholders include the Hong Kong
SAR Government and many reputable private sector shareholders.
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For press enquiries, please contact Tradelink (Corporate Communications)
on 2599 1686.
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