Plans to debut on the global market of the Nasdaq with ticker symbol HSFT this week.
According to prospectus submitted to the US Securities and Exchange Commission (SEC), it intends to raise about USD 111 million via issuing at least 7.4 million ADSs (American Depository Shares) on the US bourse.
In detail, it plans to issue 6.4 million ADSs and the underwriters have the right to acquire 1.1 million ones additionally. An ADS is equivalent to 19 ordinary shares and the price is expected to range from USD 11 to USD 13.
hiSoft was established in 1996 and has grown into China’s second-biggest IT outsourcing company by operating revenue. It focuses on providing service to clients in the US and Japan such as Microsoft, HP and Sony.
Its operating revenue rose 40 percent in the first quarter of this year, with profit up 100 percent.
Source:http://www.tradingmarkets.com/news/stock-alert/hsft_china-it-outsourcing-giant-to-debut-on-nasdaq-1011127.html
