Stock Exchange of Hong Kong lists Midas Holdings

Move to take advantage of company's enhanced corporate profile in China and Hong Kong.

Midas Holdings Limited (“Midas”), manufacturer of aluminium alloy extrusion products for the passenger rail transportation sector in the PRC, on Wednesday commenced trading on the Main Board of The Stock Exchange of Hong Kong Limited (“SEHK”).

Midas’ shares gained 7.4% from its offer price of HK$5.43 per share to close at HK$5.83 per share. Active trade was registered, with 70.5 million shares changing hands, representing an aggregate turnover of approximately HK$417 million, according to a Midas report.

Midas currently has a primary listing on the Main Board of the Singapore Exchange Securities Trading Limited. The Group raised gross proceeds of approximately HK$1.2 billion from its global offering (assuming the over-allotment option is not exercised), in conjunction with its secondary listing on the SEHK.

Mr. Patrick Chew, Chief Executive Officer of Midas, said, “Our Hong Kong listing marks another important milestone for Midas. We would like to thank all our investors for your support. With this successful Global Offering, we aim to capitalise on our enhanced corporate profile in the PRC and in Hong Kong and capital position to significantly expand production capacity and strengthen our leading market position. We are committed to delivering the best value and maximising returns for our shareholders.”

Credit Suisse (Hong Kong) Limited (“Credit Suisse”) is the Sole Global Coordinator and Sole Sponsor of the Global Offering. Credit Suisse and J.P. Morgan Securities Ltd. (“J.P. Morgan”) are the Joint Bookrunners of the International Placing and Credit Suisse and J.P. Morgan Securities (Asia Pacific) Limited (“J.P. Morgan Asia Pacific”) are the Joint Bookrunners of the Hong Kong Public Offer. Credit Suisse, J.P. Morgan and CCB International Capital Limited (“CCBI”) are the Joint Lead Managers of the International Placing and Credit Suisse, J.P. Morgan Asia Pacific and CCBI are the Joint Lead Managers of the Hong Kong Public Offer.