IT infrastructure solutions providerAmerican high range (01985.HK)From February 24 to March 1, the company issued 60 million shares, of which 90% were international placements, 10% were public offers, and 15% were over-allotted shares. The issue price per share is HK$1.20 - HK$1.46 (same unit below); 2,000 shares per lot, expected to be listed on March 8.
According to the announcement, Meigaoyu is an IT infrastructure solution provider based in Hong Kong. The company's revenue for the 2015 and 2016 fiscal years was 1,064 million yuan and 1,075 billion yuan. Net profit was $34 million and $31.2 million.
The net sale proceeds amount to $51.8 million (calculated as the median of the proposed issue price), about 35% to enhance the IT management system; 25% to enhance the ability to undertake large-scale contracts through financial performance collateral; 20% to recruit and train employees; 10% to enhance marketing efforts; and 10% for additional working capital and other general corporate purposes.
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