KINGBOARD COPPER FOIL HOLDINGS LIMITED
(Incorporated in Bermuda on 10 September 1999)
INVITATION IN RESPECT OF 215,000,000 ORDINARY SHARES OF US$0.10 COMPRISING 170,000,000 NEW SHARES AND 45,000,000 VENDOR SHARES AS FOLLOWS:
(1) 43,000,000 OFFER SHARES AT S$0.53 FOR EACH OFFER SHARE BY WAY OF PUBLIC OFFER; AND
(2) 172,000,000 PLACEMENT SHARES AT S$0.53 FOR EACH PLACEMENT SHARE BY WAY OF PLACEMENT;
PAYABLE IN FULL ON APPLICATION
The Board of Directors of Kingboard Copper Foil Holdings Limited ("KBCF" or the "Company") is pleased to announce that at the close of the Application List at 12.00 noon on 14 December 1999, there were 35,702 applications for the 43,000,000 Offer Shares available to the public for subscription. In total, these applicants applied for 481,262,000 Offer Shares, with application moneys received amounting to approximately $255 million.
Based on the 43,000,000 Offer Shares available to the public for subscription, the offer to the public is approximately 11.2 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 |
9:20 |
1 |
11.27 |
4,852 |
| 2 to 9 |
10:20 |
2 |
33.21 |
7,148 |
| 10 to 49 |
11:20 |
3 |
32.53 |
4,667 |
| 50 to 99 |
12:20 |
5 |
7.20 |
620 |
| 100 to 499 |
13:20 |
7 |
12.60 |
775 |
| 500 to 999 |
14:20 |
9 |
1.42 |
68 |
| 1,000 and above |
15:20 |
12 |
1.76 |
63 |
| |
|
|
|
18,193 |
Of the 172,000,000 Placement Shares, 171,958,000 Placement Shares have been successfully subsribed for. Accordingly, the balance of 42,000 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 |
854 |
| 10 to 49 |
711 |
| 50 to 99 |
170 |
| 100 to 499 |
193 |
| 500 to 999 |
45 |
| 1,000 and above |
41 |
| |
2,014 |
The Shares will commence trading on a "ready" basis on 16 December 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 unsuccessful applicants, together with the full amount of the application moneys (without interest or any share of revenue or other benefit arising therefrom), will commence today and is expected to be completed by 20 December 1999. For unsuccessful Electronic Applications, it is expected that the full amount of the application moneys (without interest or any share of revenue or other benefit arising therefrom) will be credited to the applicants' accounts with their Participating Banks (as defined in the Prospectus dated 6 December 1999) within three market days after the close of the Application List on 14 December 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 or other benefit arising therefrom) to the applicants, by ordinary post at their own risk (in the case of applications made using printed Applications Forms) or through the crediting of the relevant amount to the applicants' accounts with their Participating Bank (in the case of Electronic Applications) within 14 days after the close of the Application List on 14 December 1999.
The Company wishes to thank the public who have applied for 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
Kingboard Copper Foil Holdings Limited
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