SHENZHEN, China, Nov. 15 /Xinhua-PRNewswire-FirstCall/ -- China Nepstar Chain Drugstore Ltd. (NYSE: NPD) ("Nepstar" or "the Company"), the largest retail drugstore chain in China based on the number of directly operated stores, announced today that the underwriters of the Company's initial public offering ("IPO") have exercised their greenshoe option in full to purchase 3,093,750 American Depositary Shares ("ADSs") from the Company at the IPO price of US$16.20 per ADS less the underwriting discount. The option was granted in connection with the Company's IPO, which was priced on November 8, 2007.
Including proceeds from the exercise of the greenshoe option, gross proceeds from the Company's IPO would increase to approximately US$384.2million.
Jiannong Qian, Nepstar's Chief Executive Officer, said: "We are delighted that investors have received our ADSs warmly. The funds raised from our IPO will enable us to further expand our store network and take other measures to reinforce our leading position in China's retail drugstore industry."
Goldman Sachs (Asia) L.L.C. was the sole global coordinator of the offering. Goldman Sachs (Asia) L.L.C. and Merrill Lynch, Pierce, Fenner & Smith Incorporated were the joint bookrunners. CLSA Limited was a co-manager of the offering.
Nepstar's registration statement relating to these securities has been declared effective by the United States Securities and Exchange Commission. This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
The offering of the securities is made only by means of a prospectus forming a part of the effective registration statement. A copy of the prospectus relating to the offering may be obtained by contacting Goldman Sachs & Co. by mail, Attn: Prospectus Department, 85 Broad Street, New York, NY 10004, facsimile: +1-212-902-9316, email: firstname.lastname@example.org.
For more information, please contact:
China Nepstar Drugstore Chain Ltd
In New York:
The Global Consulting Group
In Hong Kong:
Citigate Dewe Rogerson
|SOURCE China Nepstar Chain Drugstore Ltd.|
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