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Finance Business IPO Review
Money economy trading
Finance Business IPO Review
Money economy trading
Finance Business IPO Review
Money economy trading
Finance Business IPO Review
Money economy trading
Finance Business IPO Review
Money economy trading
Finance Business IPO Review
Money economy trading
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Business :- Online
Games
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Listing
:- Nasdaq Global Market
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Symbol:- "PWRD"
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Business
Overview |
IPO
Report |
Offer/Objects
of issue |
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The Offering |
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The
offer :-
11,800,000 ADSs. (each
ADS represents five Class B ordinary shares, par value US$0.0001 per
share.) |
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Common
stock outstanding after this offering :- 279,285,720
shares par value US$0.0001per share, includes 91,309,730 Class
A ordinary shares and 187,975,990 Class B ordinary shares.
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Offer
price range :- $12.00 and $14.00
per ADS
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Offer
Details |
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ADSs
offered by company |
9,000,000
ADSs.
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ADSs
offered by the selling shareholders |
2,800,000
ADSs. |
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ADSs
to be outstanding immediately after this offering |
11,800,000
ADSs. |
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Ordinary
shares to be outstanding immediately after this
offering |
279,285,720
shares*
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The
underwriters have an option to purchase up to
1,770,000 additional ADSs from certain existing
shareholders to cover over-allotments. |
*Includes 91,309,730 Class
A ordinary shares and 187,975,990 Class B ordinary shares.
Holders
of Class A ordinary shares and Class B ordinary shares
have the same rights except for voting and conversion
rights. Each Class A ordinary share is entitled to 10
votes on all matters subject to shareholders’ vote,
and each Class B ordinary share is entitled to one vote
on all matters subject to shareholders’ vote. Each
Class A ordinary share is convertible into one Class B
ordinary share at any time by the holder thereof. Class
B ordinary shares are not convertible into Class A
ordinary shares under any circumstances.
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Proceeds
Estimate
net proceeds to company from this offering will be
approximately US$106.2
million, 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$13.00 per
ADS would increase (decrease) the
net proceeds from this offering by approximately US$8.4
million,
assuming that the number of ADSs offered by company
remains the same.
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Use
of proceeds
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Primary
purposes of this offering is to create a public
market for company's shares for the benefit of all
shareholders
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To
retain talented employees by providing them with
equity incentives
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To
obtain additional capital.
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Company
intend to use approximately US$12 million of the net
proceeds from this offering to expand its research
and development efforts
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For
other general corporate purposes, including capital
expenditures and funding possible future
acquisitions.
If
an unforeseen event occurs or business conditions
change, Company may use the proceeds of this offering
differently than as described. Pending use of the net
proceeds, company intend to hold its net proceeds in
short-term bank deposits or invest them in
interest-bearing government securities.
Company
will not receive any of the proceeds from the sale of
shares by the selling shareholders.
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The
number of ordinary shares to be outstanding after this
offering excludes:
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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
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