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Excel Development Holdings Ltd announces pricing of share offering


Monday, 9 Dec 2013 05:21pm EST 

Excel Development Holdings Ltd:Says that the offer price of its share offering has been determined at HK$1.2 per offer share (exclusive of brokerage fee of 1.0 pct, SFC transaction levy of 0.003 pct and Stock Exchange trading fee of 0.005 pct).Says that based on the offer price of HK$1.2 per offer share, the net proceeds from the share offer to be received by the company, after deduction of underwriting commissions and other estimated expenses payable by the company in relation to the share offer, are estimated to be about HK$47.8 mln.Says about 80 pct or HK$38.2 mln of the total net proceeds will be used for the operation of the current projects and prospective projects.Says about 5 pct or HK$2.4 mln of the total net proceeds will be used for the employment of additional staff for current and new projects and the expansion of the business of the company.Says about 5 pct HK$2.4 mln of the total net proceeds will be used to support the increase of the performance bonds facilities available to the company for satisfying performance bonds requirement of prospective projects.Says about 10 pct or HK$4.8 mln of the total net proceeds will be used for the working capital and other general corporate purposes. 

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