(RTTNews) -  Longtop Financial Technologies Ltd. (LFT: News ) said on Monday that it has closed its follow-on public offering of 4.255 million American depositary shares, or ADSs, representing 4.255 million ordinary shares. The offering included a total of 555 thousand ADSs sold by the company pursuant to the underwriters' over-allotment option, which was exercised in full.

The company received aggregate net proceeds of about $127 million, after deducting underwriting discounts and commissions, but before deducting offering expenses payable by the company. Deutsche Bank Securities Inc. and Morgan Stanley & Co. International plc acted as joint bookrunners for the offering.

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by RTT Staff Writer

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