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FOR
IMMEDIATE RELEASE
MULTIVISION INTELLIGENT SURVEILLANCE
ANNOUNCES LISTING ON THE SINGAPORE STOCK EXCHANGE AND
THAT ITS PUBLIC OFFER WAS 7.8 TIMES SUBSCRIBED
Singapore, 17 December 2002 - MultiVision
Intelligent Surveillance Limited ("MultiVision"),
a Hong Kong based technology company which specialises
in the design, development and distribution of digital
video surveillance products and solutions, is pleased
to announce the listing of its shares on the Main Board
of the Singapore Exchange Securities Trading Limited
(the "SGX-ST").
Highlights
- MultiVision will list 70.1 million new shares
at S$0.23 per share on the Main Board of the
SGX-ST. The shares will commence trading on
Wednesday 18 December 2002.
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- MultiVision's IPO received a total of 1,315
valid applicants for the 10,500,000 Offer Shares
applying for a total of 82,192,000 Shares with
application monies received amounting to approximately
S$18.9 million.
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- Based on the 10,500,000 Offer Shares, the
Public Offer was approximately 7.8 times subscribed.
Based on the total Invitation size of 70,100,000
New Shares and the total applications amounting
to 141,792,000 Shares (comprising the 82,192,000
public shares and the 59,600,000 placement shares),
the Invitation was approximately 2 times subscribed.
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- The IPO will raise total net proceeds of S$13.3
million, of which S$2.0 million will be used
to finance regional expansion; S$3.3 million
for potential acquisitions and investments in
complementary businesses; and S$6.7 million
for R&D activities. The remaining S$1.3
million will be used to fund working capital
requirements.
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Commenting on the listing of MultiVision,
Mr Louis Mak, Chief Executive Officer and Chief Technology
Officer of MultiVision, said:
"Today is a key date in the history
of MultiVision, and we are delighted with the response
from investors to our offering. The listing on the Singapore
Exchange, and establishment of a regional sales and
marketing office in the city, are significant steps
towards us tapping the growth potential of the digital
video surveillance products and solutions market in
Southeast Asia. Furthermore, we remain committed to
maintaining the competitive advantage of our products
and solutions through the continued enhancement of our
research and development capabilities."
Pheim Asset Management (Asia) Pte
Ltd, Phillip Capital Management (S) Ltd and Commerzbank
Asset Management Asia Ltd each subscribed in aggregate
more than 5 per cent of MultiVision's Invitation Shares
for the various funds managed by each of them.
For further information contact:
MultiVision Intelligent Surveillance
Limited Tel: + 852 2797 5678
Dennis Li, President and COO: dennis_li@multivision.com.hk
SBI E2 Capital Tel: + 65 6220 6550
Choo Chee Kong: peterchoo@softbank.com.hk
Gavin Anderson & Company Tel:
+ 65 6339 9110
Terence Foo: tfoo@gavinanderson.com.sg
Mobile: 9878-8787
Julian Wilson:
jwilson@gavinanderson.com.sg
Mobile: 9738-5851
About MultiVision
Headquartered in Hong Kong, MultiVision
was established in 1986 and is a technology-based company
principally engaged in the design, development and distribution
of digital video surveillance products and solutions.
The Company's products are adapted for use in a diverse
range of industries including banking, residential,
commercial, utilities, healthcare, and transportation
as well as various government agencies. The end-users
of MultiVision's products include companies in both
the private and public sectors. MultiVision is ISO9001
certified.
MultiVision's products and solutions
are marketed to distributors, OEM's of surveillance
products and systems integrators for integration into
the security and surveillance systems of its end users.
The Company's principal markets are in Australia, Hong
Kong, Taiwan and the PRC. In addition, as at 30 September
2002, MultiVision had 26 distributors in various countries
and/or places including Hong Kong, Taiwan, Macau, the
PRC, Thailand, Malaysia, Singapore, Indonesia, Australia,
New Zealand, Israel, Ghana, The Middle East, Ireland,
UK, Latvia and the USA.
The MultiVision range of digital video
surveillance product offers digital video recording
and real time monitoring of multiple locations from
a central monitoring centre through the routing of signals
from various cameras to the central monitoring centre.
For further information see:
www.multivision.com.hk
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