Chinasoft International Ltd (CFTLF)

[StockpickerCAPC]

Received five times oversubscription of Chinasoft International successfully raised HK$2 billion.

source
http://www.chinasofti.com/news/2287.htm

October 9, 2021

Chinasoft International Co., Ltd. (Chinasoft International/Company) (SEHK: 00354), a large-scale comprehensive software and information technology service company in China, announced that the company will place 162 million new shares at HK$12.26 per share and raise HK$2 billion for the whole The research and development of stack cloud intelligent products and solutions, as well as investment and mergers related to the company's main business, further enhance the company's technical capabilities; create OpenHarmony software and hardware products, solutions, and open source ecology to build new business growth.

ChinaSoft International’s placement has been enthusiastically sought after by a number of well-known long-term and strategic investors around the world. It was fully subscribed within half an hour from the opening of the book, and finally was oversubscribed by 5 times, fully demonstrating the company's value as a leading ITS enterprise in China. This placement is only a discount of 9.85%, which is the only new share placement project that can be priced at a single-digit discount in the Hong Kong stock market in the second half of the year.

Since its listing in 2003, ChinaSoft International has achieved a compound annual growth rate of nearly 30% in revenue. It has become a leading company in China's IT service industry. It has been selected as one of the TOP 100 in Gartner's global IT service market share ranking for three consecutive years, continuing to demonstrate China's digital iron army. The company’s placement financing has been oversubscribed several times, indicating that the company’s good fundamentals and broad development prospects have been fully recognized by global long-term stable institutional investors.

ChinaSoft International will take this financing opportunity to comprehensively upgrade new technology capabilities, create new growth around cloud intelligence, OpenHarmony and other businesses, and achieve more quality, valuable and meaningful development. The company will continue to cultivate its internal skills, continue to consolidate the cornerstone business, further improve the company's business layout, and continue to move toward the goal of a technology-based software service enterprise of "one in the world", and become the world's Chinasoft International!