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Pacific Textiles plans to expand main production unit in Panyu

May '07
Pacific Textiles Holdings Limited a leading manufacturer of customized knitted fabrics, announced details of its proposed listing on the Main Board of the Stock Exchange of Hong Kong Limited.

Pacific Textiles will offer a total of 358,234,000 shares under the Global Offering. The Company has granted an over-allotment option to the underwriters to issue up to an additional 53,735,000 shares, representing approximately 15% of the total number of shares initially available under the Global Offering.

The price range for each share is between HK$4.15 and HK$5.50 per share. Based on an offer price of HK$4.83 (being the mid-point of the above offer price range), the net proceeds of the Global Offering will be approximately HK$1,622 million assuming that the over-allotment option is not exercised. If the over-allotment option is exercised in full, based on an offer price of HK$4.83, the net proceeds of the Global Offering will be approximately HK$1,874 million.

Citigroup Global Markets Asia Limited and Morgan Stanley Dean Witter Asia Limited are the Joint Global Coordinators, Joint Bookrunners, Joint Lead Managers and Joint Sponsors of the Global Offering.

The Hong Kong Public Offer will open at 9 a.m. on Monday, May 7, 2007 and will close at 12 noon on Thursday, May 10, 2007. Pricing of the shares is expected to be determined on Friday, May 11, 2007. Trading of the shares of the Company is expected to commence on Friday, May 18, 2007 on the Main Board of the HKEx under the stock. Shares will be traded in board lots of 1,000 shares.

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