----------------------------------------------------------------------

----------------------------------------------------------------------

Proceeds

Estimate net proceeds to company from this offering will be approximately US$131.0 million, or approximately $151.1 million if the underwriters exercise their over-allotment option in full, after deducting estimated underwriting discounts and commissions and estimated offering expenses payable by company. A $1.00 increase (decrease) in the assumed initial public offering price of US$12.00 per ADS would increase (decrease) the net proceeds from this offering by approximately US$11.2 million, assuming that the number of ADS offered by company remains the same.

----------------------------------------------------------------------

----------------------------------------------------------------------

Use of proceeds

• As per company the principal reasons for this offering are to create a public market for its ordinary shares for the benefit of all shareholders, to retain talented employees by providing them with equity incentives in a public company, to promote corporate brand and image and to raise capital.

• Company intend to use net proceeds from this offering for research and development, sales and marketing, acquisitions and general corporate purposes.

• Company do not have agreements or commitments for any specific material acquisitions at this time. While its board of directors has approved opening negotiations to purchase a certain technology relating to CA systems security, negotiations have not yet been initiated and, if and when commenced, may not lead to an agreement on definitive terms for or the consummation of any acquisition.

Pending such uses, company may invest the net proceeds from this offering in short-term interest-bearing debt instruments or bank deposits. 

----------------------------------------------------------------------

----------------------------------------------------------------------

Common stock to be outstanding be outstanding after this offering excludes:

This article reflects personal view of the author about the company and one must read offer prospectus and consult its financial adviser before making any investment decision

  TOP