[ET Net News Agency, 10 December 2018] Pacific Millennium Packaging Group Corporation
(01820), a corrugated packaging supplier in China, said it intends to offer a total of
75.16 million offer Shares, of which 90% will be for the international offering (subject
to adjustment and the over-allotment option) and the remaining approximately 10% are for
the Hong Kong public offer (subject to adjustment).
The indicative offer price range is between HK$3.98 and HK$4.76 per share.
Assuming an offer price of HK$4.37 per share (being the mid-point of the indicative
offer price range), the estimated net proceeds of the share offer are HK$291.2 million.
The Hong Kong public offer began today and ends at noon on 13 December. The final offer
price and the results of the allocation are expected to be announced on 20 December.
Trading of shares will commence on the main board of the stock exchange on 21 December.
As part of the international offer, the group have entered into cornerstone investment
agreements with each of Brilliant Goal Investments Limited (wholly-owned by Nine Dragons
Paper), Mega Capital Inc. and Cycle Link International Holdings Limited (wholly-owned by
Shanying Paper).
Assuming an offer price of HK$4.37, the total number of shares to be subscribed for by
the cornerstone investors would be 30.88 million shares, representing 10.26% of the shares
in issue upon completion of the global offering.
SPDB International Capital is sole sponsor, sole global coordinator, joint bookrunner
and joint lead manager. Other joint bookrunners and joint lead managers include Mason
Securities, China Industrial Securities International Capital, Crosby Securities, Shenwan
Hongyuan Capital (H.K.), China Tonghai Securities, Dongxing Securities (Hong Kong) Company
Limited, Yicko Securities, Blackwell Global Securities and Fulbright Securities. (KL)