China Ludao Technology Co Ltd Announces Pricing Of Placing
China Ludao Technology Co Ltd announced that the Offer Price of its Placing has been determined at HKD0.80 per Offer Share (exclusive of brokerage of 1.0%, SFC transaction levy of 0.003% and Stock Exchange trading fee of 0.005%). Based on the Offer Price of HKD0.80 per Offer Share, the net proceeds from the Share Offer to be received by the Company, after deduction of the underwriting fees and estimated expenses in connection with the Share Offer, are estimated to be approximately HKD59.26 million. Approximately 54%, which represent approximately HKD32.00 million (approximately RMB25.60 million), conditional upon obtaining the necessary approvals, to increase the production capacity of the Company progressively by financing the first phase of constructing new production facility. Approximately 24%, which represent approximately HKD14.22 million (approximately RMB11.38 million), to be used for the expansion of the domestic distribution channel. The Company plans to increase the number of domestic Distributors to approximately 330 and 360 by the end of 2014 and 2015, respectively. Approximately 12%, which represent approximately HKD7.11 million (approximately RMB5.69 million), to promote the brand names of ‘‘Green Island’’, ‘‘Ludao’’, ‘‘JIERJIA’’ and ‘‘EAGLEIN KING’’ by increasing its marketing and advertising efforts.
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