Bright Smart outlines listing details on SEHK Main Board

Company targets to offer 16,680,000 shares for IPO on August 25.

Bright Smart Securities & Commodities Group Limited (“Bright Smart”), a leading provider of online brokerage services with low brokerage commission rates, announced the details of its proposed listing on the Main Board of The Stock Exchange of Hong Kong Limited, according to a Bright Smart report.

Bright Smart intends to offer 166,800,000 shares (subject to the over-allotment option) in aggregate with 150,120,000 shares, or 90% of the offered shares, for placing and 16,680,000 shares, or 10% of the offered shares for the public offer in Hong Kong. The indicative offer price range will be between HK$1.35 and HK$1.62 per share. Assuming an offer price of HK1.485 per share (being the mid-point of the indicative offer price range) and that the over-allotment option is not exercised, net proceeds from the share offer will be approximately HK$218,000,000 after deducting the underwriting fees and other estimated expenses.

The placing began on 9 August 2010 (Monday) and will be closed on 17 August 2010 (Tuesday). The public offer will begin on 12 August 2010 (Thursday) and end at noon on 17 August 2010 (Tuesday). The final offer price and allotment results will be announced on 24 August 2010 (Tuesday). Dealing in the shares of Bright Smart is expected to commence on the Main Board of SEHK on 25 August 2010 (Wednesday) under the stock code 1428. Shares will be traded in board lots of 2,000 shares.

BOCOM International (Asia) Limited and Somerley Limited are the Joint Sponsors, while BOCOM International Securities Limited is the Bookrunner, Lead Manager and Underwriter.