Ninetowns Announces Pricing of Initial Public Offering of American Depositary Shares
December 03 2004 - 3:38AM
PR Newswire (US)
Ninetowns Announces Pricing of Initial Public Offering of American
Depositary Shares BEIJING, China, December 3 /PRNewswire-FirstCall/
-- 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 US
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 +86-10-6588-2256
DATASOURCE: Ninetowns Digital World Trade Holdings Limited CONTACT:
Lisa Zheng, Investor Relations, Ninetowns Digital World Trade
Holdings Limited, +86-10-6588-2256,
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