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Pacific Textiles Holdings Limited Global Offering Oversubscribed
2007-05-16 Download Press Release (PDF, 226.99K)
Final offer price set at HK$5.35 per share Hong Kong Public Offer 46 times oversubscribed Hong Kong, 16 May, 2007 – Pacific Textiles Holdings Limited (the “Company”), a leading manufacturer of customized knitted fabrics, today announced that the final offer price for the Company’s shares in its Global Offering has been set at HK$5.35 per share. The size of the Global Offering is 358,234,000 shares or 25% of the enlarged share capital of the Company after completion of the Global Offering and before exercising the over-allotment option. The net proceeds from the Global Offering (after deducting fees and estimated expenses payable by the Company in connection with the Global Offering) are estimated to be approximately HK$1,803 million. The Hong Kong Public Offer was 46 times oversubscribed and therefore the clawback mechanism has been effected. The total number of shares available under the Hong Kong Public Offer tranche will be increased to 107,472,000 shares, representing 30% of the entire Global Offering. The remaining 250,762,000 shares were placed under the International Offer. The basis of allocation of shares in the Hong Kong Public Offer will be published in the South China Morning Post (in English) and Hong Kong Economic Times (in Chinese) on 17 May, 2007. The shares of the Company are expected to start trading on the Main Board of the Stock Exchange of Hong Kong Limited on Friday, 18 May, 2007, with the stock code “1382”. Citigroup Global Markets Asia Limited and Morgan Stanley Dean Witter Asia Limited are the Joint Global Coordinators, Joint Bookrunners, Joint Lead Managers and Joint Sponsors of the Global Offering. Founded in 1997, Pacific Textiles has become a leading manufacturer of customized knitted fabrics with a focus on complex, value-added fabrics. For the eight months ended 30 November, 2006, Pacific Textiles’ revenue was HK$2,887 million and profit for the period was HK$402.6 million, compared to HK$2,187 million and HK$310.7 million, respectively, in the eight-month period ended 30 November, 2005. As at 30 November, 2006, Pacific Textiles had total assets of HK$2,817 million. For further enquiries, please contact Hill and Knowlton Asia Ltd.:-
Company Contacts:
Kong Hoi Ni
Tel:(852) 2894 6323/ 9807 2495

Company Contacts:
Shari Lai
Tel:(852) 2894 6251/ 9231 3219

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