Active trading sees shares increase 19.7% to close at HK$2.25 per share
(Hong Kong, 15 July 2003) – Trading in Comba Telecom Systems Holdings Limited ("Company" or "Comba"; SEHK stock code: 2342) commenced today on the main board of The Stock Exchange of Hong Kong Limited.
The closing price of HK$2.25 per share represents a 19.7% increase over the initial offer price of HK$1.88, with an intra-day high of HK$2.50 per share recorded. A total of 66.05 million shares were traded, representing an aggregate turnover of HK$150.34 million.
The offer size was 200,000,000 new Shares representing 25% of the Company's enlarged share capital after completion of the Global Offering. In addition, the Company has granted The Hongkong and Shanghai Banking Corporation Limited an over-allotment option of up to 15% of the base offer size, representing 3.75% of the Company's enlarged share capital after completion of the Global Offering.
Mr. Fok Tung Ling, Chairman and Managing Director of Comba, "We are very pleased and encouraged with the performance of the share price. The enthusiasm with which investors have shown toward Comba's shares demonstrates their confidence in the management team and the company's growth prospects."
Mr. Fok further noted, "We have all worked very hard to prepare the company for listing. We realize today is a starting point for Comba as there are many opportunities as well as challenges ahead. We will strive to deliver our growth commitments in order to maximize shareholder value."
Comba was the leading wireless coverage solutions provider in the PRC in 2002 with a market share in terms of revenue of approximately 21% (source: IDC,2003), and principally provides integrated wireless coverage solutions through its national sales and services network to its customers in the PRC. The Comba Group also sells its wireless coverage products to customers in the PRC and Southeast Asia, such as India, Thailand, Indonesia and Singapore.
The Hongkong and Shanghai Banking Corporation Limited is the Global Co-ordinator, Bookrunner, Lead Manager and Sponsor of the Global Offering.