Dragon Crown’s Hong Kong Public Offer shares 38.5 times oversubscribed

The estimated HK$275.1mn net proceeds from the Global Offering at fixed price of HK$1.10 per share will be used for phase 3 of its Nanjing development.

Dragon Crown Group Holdings Limited (“Dragon Crown”), a leading integrated terminal service provider in the PRC specialising in the storage and handling of liquid chemical products, on Thursday announced its Global Offering allotment results.

The offer shares for the Hong Kong Public Offer were approximately 38.5 times over-subscribed and the shares offered under the International Placing were also moderately over-subscribed. The Offer Price of the shares has been fixed at HK$1.10 per share. according to a Dragon Crown report.

The over-subscription in the Hong Kong Public Offer has activated the clawback mechanism. The final number of offer shares under the Hong Kong Public Offer has been increased to 82,500,000 shares, and the number of shares for the International Placing has been reduced to 192,500,000 shares.

Based on the final offer price of HK$1.10 per share, the estimated net proceeds from the Global Offering amounted to approximately HK$275.1 million and will be used mainly for the development of its phase III terminal facilities in Nanjing.

Mr. Ng Wai Man, Chairman and Executive Director of Dragon Crown, said, “We are pleased by the subscription results, which demonstrates the confidence of investors in our business and prospects. The listing of our shares on the Main Board of The Stock Exchange of Hong Kong Limited is an important milestone for Dragon Crown, providing us with a strong impetus to accelerate the overall development of our business.”

Dealing in the shares of Dragon Crown is expected to commence on the Main Board of SEHK on 10 June 2011 (Friday) under the stock code 0935. Shares will be traded in board lots of 2,000 shares.

China Everbright Capital Limited is the Sponsor and China Everbright Securities (HK) Limited is the Sole Global Coordinator, Sole Bookrunner and Sole Lead Manager of the listing.

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