Ninetowns Announces Pricing Of Initial Public Offering Of American
Depositary Shares
Beijing, China, 3 December 2004
Ninetowns
Digital World Trade Holdings Limited (Nasdaq: NINE) announced
today that its initial public offering of 9,600,000 American
Depositary Shares (ADSs), each representing one ordinary share,
was priced at US$11.00 per ADS. The ADSs will be listed on the
Nasdaq National Market under the symbol "NINE" and
the trading of the ADSs is expected to begin today. The offering
consists of 6,400,000 ADSs offered by Ninetowns and 3,200,000
ADSs offered by its selling shareholders. The selling shareholders
have granted the underwriters an option to purchase up to an
additional 1,440,000 ADSs to cover over-allotments.
J.P. Morgan Securities Inc., Citigroup Global Markets Inc., Lehman
Brothers Inc. and Jefferies Broadview, a division of Jefferies & Company,
Inc. are underwriting the offering, with J.P. Morgan Securities
Inc. serving as the representative of the underwriters. A copy
of the prospectus relating to the offering may be obtained from
J.P. Morgan Securities Inc. at 277 Park Avenue, New York, New York
10172 or by telephone at +1-212-902-1000.
A registration statement relating to these securities was filed
and declared effective by the U.S. Securities and Exchange Commission.
This press release shall not constitute an offer to sell or a solicitation
of an offer to buy nor shall there be any sale of these securities
in any jurisdiction in which such offer, solicitation or sale would
be unlawful prior to registration or qualification under the securities
laws of any such jurisdiction.
About Ninetowns Digital World Trade Holdings Limited
Ninetowns
is a PRC software company that enables enterprises and trade-related
PRC government agencies to streamline the import/export process
in China . Through its enterprise software products, Ninetowns'
customers have the ability to automate import/export processing
over the Internet, which is a more cost-effective and efficient
alternative to the traditional paper-based method.
Contact:
Lisa Zheng
Investor Relations
Ninetowns Digital World Trade Holdings Limited
Tel: (86)(10) 6588 2256 |