Roadshow rumored to raise HK$330 mln to HK$450 mln by listing

It was reported by sources that Roadshow, the subsidiary of Kowloon Motor Bus Holdings (0062) would raise HK$330 mln to HK$450 mln at a price 9 times to 12 times of the forecasted price/earnings ratio in 2001. If the listing succeeded, Roadshow would become the Hong Kong company with the highest IPO raised capital.

 Roadshow planned to issue 240 mln new shares, representing 25% of the enlarged share capital. If the over-subscription rights were fully exercised, the issue volume of the new shares would increase to 27.7% of the share capital.

Roadshow will be listed during the period between late June and early July. The raised capital will be used for the investment in global location system and other relevant establishments with the multi-media advertisement business.

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