A8 music network will be listed in Hongkong up to HK $217 million financing

May 27th news, A8 music network today announced the details of the listing, up to HK $217 million financing, announcement of the restructuring of the telecommunications performance risks.

plans to issue 91 million shares, of which the international placement of the 90%, the public offering of 10%, the stock price of HK $-2.38 between HK $1.66, up to HK $217 million financing.

if the IPO price of HK $2.02 to calculate the median, A8 net net proceeds of approximately HK $133 million. Which A8 music network plans to HK $48 million 500 thousand for potential acquisitions, further development of the Hong Kong dollar A8 BOX online system to HK $20 million 800 thousand for 3G technology business integration, and to enhance the interactive platform of HK $12 million 600 thousand.

According to the

prospectus, A8 music network from May 28 to June 2nd at 12 noon to accept public subscription, the June 12th board listing, stock code 0800.HK, the sponsor of Softbank Jinhui financing. According to 2000 shares per hand, admission fee of HK $4808.02.

according to the A8 prospectus, the 07 annual turnover of 290 million yuan, net profit of 55 million 270 thousand yuan, up 39%; while the IPO price is equivalent to 07 years earnings ratio of 12.2 to 17.4 times.

on the reorganization of telecommunications, the upcoming release of 3G licenses, A8 chairman and CEO Liu Xiaosong said: this will stimulate the development of China’s wireless music industry. The arrival of the 3G era, will also improve the user experience, streaming audio and video and other new applications will be popular, wireless music will be more diversified.

A8 music network if the listing is successful, will be Hongkong’s first online music capital market stocks. (Chen Keyu)

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