Vision Fame (HKG:1315) Begins IPO, Entry Fee $2,767.62


Vision Fame International Holding Limited (HKG:1315), principally engaged in main-contractor operations in relation to provision of property construction, maintenance and renovation services, has announced the details of its global offering due to begin tomorrow:

Shares for offer: 75 million shares (including 51 million new shares and 24 million existing shares), of which 90% are for international placing and 10% are for Hong Kong public offering. An optional additional 15% shares may also be offered.

Offer price: HK$1.00-1.37 per share

Gross proceeds: HK$75.00-102.75 million

Net proceeds: HK$41.5 million (assuming an offer price of HK$1.18 per share)

Use of proceeds:
- 24.1% for the group's business development in the PRC;
- 75.9% for cementing the group's foothold in Hong Kong, Singapore and Macau.

The shares for Hong Kong public offering will be increased:
- to 30% of all global offer shares if the Hong Kong public offer shares are over-subscribed by 15x or higher;
- to 40% of all global offer shares if the over-subscription is 50x or higher; and
- to 50% of all global offer shares if the over-subscription is 100x or higher.

Board lot size: 2,000 shares

IPO "entry fee": HK$2,767.62

Offer period: December 30 to noon of January 6

Pricing date: January 10

Listing date: January 18

Sponsor: Everbright Securities

Receiving bank: Bank of East Asia (00023)

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