June 19, 2000
Total e-Solution Provider -
Excel Technology International
Holdings Limited Proposed Listing on the GEM of SEHK
[June 19, 2000, HONG
KONG] – Excel Technology International Holdings Limited (“Excel” or the “Group”;
stock code: 8048) announced today its proposed listing plan on The Growth
Enterprise Market (“GEM”) of The Stock Exchange of Hong Kong Limited (“Hong
Kong Stock Exchange”).
Excel is a leading business application solutions
provider in the banking and finance sector in Hong Kong, and is principally
engaged in the development, sale and implementation of enterprise software. a company which owns and operates a multi-lingual portal offering
on-line interactive games and on-line Internet services.
The Share Offer
comprises a Placing and an Initial Public Offer. share offer will
initially be for Initial Public Offer and the remaining 85%, maximum up to
127,500,000 shares, will be initially offered for subscription under the
Placing. 0, 2000. -height:125%;layout-grid-mode:char'>In March 2000,
the Group and iBusiness formed a joint venture, i21 Limited ('i21'), to operate
ASP Business under the brandname 'i21'. har'>Ms. Peggy Chan,
Chairman of Excel, stated that the Group is very optimistic about the
enterprise software market. ='text-align:justify;text-justify:inter-ideograph;
line-height:125%;layout-grid-mode:char'>The impact of the
Internet presents a significant opportunity for IT service providers,
especially those who have Internet capabilities and applicable systems. -fareast-font-family:MingLiU'>
In addressing the
future plans and prospects for the Group, Ms Chan said, 'One of Excel's
strengths is our strong portfolio of IT partners, including Sun Microsystems,
CISCO, Oracle, Microsoft and Compaq. siness into the PRC and Southeast Asia. ning:1.0pt;
mso-ansi-language:EN-US;mso-fareast-language:ZH-TW;mso-bidi-language:AR-SA'> The net proceeds
of the Offer, after deducting related expenses, are estimated to about HK$188
million (based on an Offer Price HK$1.4). char'>-
approximately HK$40 million for the
development of the ASP Business; -
approximately
HK$20 million for research and development of new enterprise software; -
approximately HK$20 million for the Group's
geographical expansion into the PRC and Southeast Asia; -
approximately HK$10 million for setting up the
e-Centre; -
approximately HK$10 million for marketing and
promotional activities; -
approximately HK$50 million for acquisitions
of and investments in companies and businesses which fit into the Group's
business strategy; -
the balance of approximately HK$38 million as
general working capital; and -
in the event the Over-allotment Option is
exercised in full, the additional net proceeds of approximately HK$30 million
will be applied by the Group as additional general working capital. Ms. Chan concluded, “]>Ends –/span>
Issue size : Approx. HK$207 - 210 million Issue price : HK$ 1.35 - 1.40 per share Offer structure w
Placing w
Public Offer 85% 15% Dealings
expected to commence : Friday, June 30, 2000 TRADING RECORD The consolidated
audited results of the Group for the two years ended December 31, 1999 are
summarized below: Year ended Dec 31 1998 1999 HK$’000 HK$’000 Turnover 74,984 98,071 Profit/ (Loss) from operations 3,058 (10,319) Profit/ (Loss)
from ordinary activities before taxation 2,489 (10,885) Profit/ (Loss)
for the year 1,725 (10,658)
At
a Glance Factsheet