ASIA DEKOR HOLDINGS LIMITED
(Incorporated in Bermuda on 7 September 1999)
Invitation in respect of 138,000,000 ordinary shares of HK$0.15 each comprising
100,000,000 New Shares and 38,000,000 Vendor Shares as follows:-
(1) 50,000,000 Offer Shares at S$0.25 for each Offer Share by way of public offer; and
(2) 88,000,000 Placement Shares at US$0.15 by way of placement;
payable in full on application
The Board of Directors of Asia Dekor Holdings Limited ("Asia Dekor" or the "Company") is pleased to announce that at the close of the Application List at 12.00 noon on 11 November 1999, there were 40,168 applications for the 50,000,000 Offer Shares available to the public for subscription. In total, these applicants applied for 858,944,000 Offer Shares, with application moneys received amounting to approximately S$214.74 million.
Based on the 50,000,000 Offer Shares available to the public for subscription, the offer to the public is approximately 17.18 times subscribed.
To ensure a reasonable spread of shareholders of the Company, the Board of Directors of the Company has decided on the following basis of allotment:-
| Range of Offer Shares Applied for |
Balloting Ratio |
No. of Offer Shares Allotted per Successful Application |
Percentage of Total No. of Offer Shares Available to the Public |
No. of Successful Applicants |
| ('000) |
|
('000) |
(%) |
|
| 1 |
11:20 |
1 |
9.13 |
4,700 |
| 2 to 9 |
11:20 |
2 |
32.45 |
8,350 |
| 10 to 49 |
12:20 |
2 |
27.54 |
7,085 |
| 50 to 99 |
13:20 |
3 |
5.96 |
1,023 |
| 100 to 499 |
14:20 |
5 |
19.24 |
1,980 |
| 500 to 999 |
15:20 |
8 |
2.41 |
155 |
| 1,000 and above |
15:20 |
15 |
3.27 |
112 |
| |
|
|
|
23,405 |
Of the 88,000,000 Placement Shares, 86,541,000 Placement Shares have been successfully subscribed for. Accordingly, the balance of 1,459,000 Placement Shares resulting from invalid applications were included as Offer Shares for subscription by the public. The spread of placees is as follows:
| Range of Placement Shares Applied for ('000) |
Number of Placees |
| 1 to 9 |
209 |
| 10 to 49 |
441 |
| 50 to 99 |
133 |
| 100 to 499 |
159 |
| 500 to 999 |
20 |
| 1,000 and above |
23 |
| |
958 |
The Shares will commence trading on a "ready" basis on 15 November 1999. There will be NO trading on a "when issued" basis.
The return of unsuccessful applications using printed Application Forms by ordinary post at the risk of the unsuccessful applicants, together with the full amount of the application moneys (without interest or any share of revenue earned or other benefit arising therefrom), will commence today and is expected to be completed by 15 November 1999. For unsuccessful Electronic Applications, it is expected that the full amount of the application moneys (without interest or any share of revenue earned or other benefit arising therefrom) will be credited to the applicants' accounts with their Participating Banks (as defined in the Prospectus dated 4 November 1999) within three market days after the close of the Application List on 11 November 1999.
In respect of partially successful applications, the balance of the application moneys is expected to be refunded (without any interest or any share of revenue earned or other benefit arising therefrom) to the applicants, by ordinary post at their own risk (in the case of applications made using printed Application Forms) or by being automatically credited to the applicants' accounts with their Participating Banks (in the case of Electronic Applications) within 14 days after the close of the Application List on 11 November 1999.
The Company wishes to thank the public who have applied for the Offer Shares and the Placement Shares, the relevant authorities and all who have helped in one way or another in the Company's initial public offering, for their support and assistance.
Issued by
The Development Bank of Singapore Ltd
For and on behalf of
Asia Dekor Holdings Limited
|