AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.

Zhongtian seeks $121m from IPO.

Asia Africa Intelligence Wire

| September 10, 2004 | COPYRIGHT 2004 Financial Times Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

(From The Standard)

Byline: Mark Lee

Zhongtian International, a software and IT services provider on the mainland, said it aims to raise up to HK$121 million in its initial public offering in Hong Kong to strengthen its business to sell financial services applications software systems to rural credit co-operatives in China.

The Qingdao-based group is selling a total of 100 million shares, or 25 per cent of its enlarged share base, at an indicative price range of HK$0.77 to HK$1.21 per share, pricing the group at between 7.1 and 11.1 times its 2003 earnings. Retail subscribers are allotted 10 per cent of the offering with the remainder going to institutional investors.

First Shanghai Capital is the lead arranger of the deal and the IPO will be priced by September 20 with trading to begin on September 22. The management will use the proceeds from the share sale to strengthen its research and development efforts in financial services software systems.

Zhongtian has a 24 per cent share of the mainland market in providing software to rural credit co-operatives, ahead of rivals such as Hong Kong-listed Digital China, research firm IDC said. Business with rural credit co-operatives ...

Related articles from newspapers, magazines, journals, and more
Bank Cards of GD Rural Credit Cooperatives Used in HK.
News wire article from: Asia Africa Intelligence Wire February 4, 2004 700+ words
...issued by Guangdong Rural Credit Cooperatives enjoyed...the cards issued by rural credit cooperatives in cities...international metropolis Hong Kong. Rural residents with...and withdraw cash in rural credit cooperatives in other...
Shenzhen's Rural Credit Union to Turn into Commercial Bank.
News wire article from: Asia Africa Intelligence Wire May 6, 2005 700+ words
...state-run Shenzhen Rural Credit Cooperatives Union is...in late March. The rural credit cooperatives union must...Commercial Bank. The rural credit cooperatives union has...mainland Chinese cities, Hong Kong and Macao. Shenzhen...
HONG KONG NEWSPAPER HIGHLIGHTS - DEC 10, 2002.
News wire article from: AsiaPulse News December 10, 2002 700+ words
HONG KONG, Dec 10 Asia Pulse - Highlights...the SAR plans to depart for Hong Kong in the next few weeks following...cash. - Beijing might allow rural credit co-operatives to lend at...their lending business. - Hong Kong has signed a new air services...
HONG KONG NEWSPAPER HIGHLIGHTS - FEB 20, 2003.
News wire article from: AsiaPulse News February 20, 2003 700+ words
HONG KONG, Feb 20 Asia Pulse - Highlights...POST - A nine-year-old Hong Kong boy has been infected with...Chartered Bank's profits in Hong Kong last year as personal bankruptcies...Shanghai will merge 232 rural credit co-operatives to form a...
Rural credit cooperative transforms into bank.
News wire article from: Asia Africa Intelligence Wire October 20, 2005 700+ words
...Lee Reform in the mainland's rural credit cooperatives gathered pace as Beijing...the new bank, formerly Beijing Rural Credit Cooperative Union, followed similar...which is listing its shares in Hong Kong this month, had an NPL ratio of...
CMBC Plans to be Listed in Hong Kong.
News wire article from: Asia Africa Intelligence Wire August 25, 2003 700+ words
...CMBC), recently revealed that CMBC aims to get listed in Hong Kong Exchanges and Clearing Limited in early 2004 with a designed...outside China Mainland. CMBC is now acquiring outlets of rural credit cooperatives, which will be not the main way to expand its...
Hong Kong daily views China's interpretation of Basic Law.
News wire article from: Asia Africa Intelligence Wire April 8, 2004 700+ words
...Monitoring International Reports) (Hong Kong Hsin Pao) on 7 April; subheadings as published Debates on Hong Kong's political system have become increasingly...since last year, and the great success Hong Kong's democrats achieved in last year...
HONG KONG DISNEYLAND SET TO BOOST LOCAL ECONOMY.
News wire article from: AsiaPulse News September 5, 2005 700+ words
HONG KONG, Sept 5 Asia Pulse - With only seven days left before the formal opening of Hong Kong Disneyland, Hong Kong is being soaked in an atmosphere of jubilance. Hong Kong Financial Secretary Henry Tang has already described the opening of...
Hong Kong's Textile and Clothing Exports Stood At US$40 Bn in 2008,...
Press release article from: M2 Presswire March 26, 2009 700+ words
...PRESSWIRE-26 March 2009-Research and Markets: Hong Kong's Textile and Clothing Exports Stood At US...Prospects for the Textile and Garment Industry in Hong Kong" to their offering. Hong Kong is the world's third largest exporter of garments...
Hong Kong paper interviews new US consul-general.
Newspaper article from: BBC Monitoring International Reports September 6, 2008 700+ words
Text of report by Hong Kong newspaper Hong Kong Economic Journal (Hsin Pao) on 5 September ["Diplomatic Manoeuvring" Column by Chiu Chen-hai: "Hong Kong is Very Important to the United States - An Exclusive Interview...
For more facts and information, see all results
©2009 Gale, a part of Cengage Learning. All rights reserved.
About us | FAQs | Contact us | Privacy policy | Terms and conditions
Other Gale sites: Encyclopedia.com | HighBeam Research | Acquire Content | Books & Authors | Goliath | MovieRetriever | Smart QandA