IPOs
11/6/2009 12:14 AM ET
(RTTNews) -
Beijing-based Duoyuan Printing, Inc., an offset printing equipment supplier, announced the pricing of its initial public offering of 6.45 million shares at $8.50 per share, including 955,918 shares being offered by the selling shareholders.
In a recent filing with the regulatory, the company said it estimates the initial public offering price to be between $8.50 and $10.50 per share.
Duoyuan Printing said it has granted the underwriters an option to purchase up to an additional 968,388 shares of common stock to cover over-allotments, if any.
Duoyuan Printing's common stock is expected to begin trading on November 6, 2009 on the New York Stock Exchange under the symbol "DYP."
Piper Jaffray & Co. acted as the sole book-running manager, and Roth Capital Partners, LLC acted as the co-manager for the offering. The offering is expected to close on November 12, 2009.
Duoyuan Printing said it intends to use this offering net proceeds of about $42.3 million to build a factory to manufacture cold-set corrugated paper machines at Langfang Duoyuan facility, to improve and upgrade existing manufacturing facilities and production lines and for general corporate purposes.
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by RTT Staff Writer
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