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Tuesday, 13 March 2018, 13:20 HKT/SGT

Source: B & S International Holdings Ltd.
B & S International Holdings Ltd. announces its subscription results; Recorded approximately 2,600 times of over-subscription for its public offer

HONG KONG, Mar 13, 2018 - (Media OutReach) - B & S International Holdings Ltd. ("B & S International", together with its subsidiaries, the "Group"; stock code: 1705), a food and beverage company, announced the subscription results for its shares (the "Shares") under the public offer (the "Public Offer") and placing (the "Placing", collectively, the "Share Offer"). The Shares under the Public Offer have been very significantly over-subscribed by approximately 2,600 times. The final offer price per Share has been set at the upper end of the offer price range at HK$1.00 per Share. Dealings in the Shares on the Main Board of The Stock Exchange of Hong Kong Limited ("SEHK") is expected to commence on 14 Mar 2018 (Wednesday).

Due to very significant over-subscription in the Public Offer, the re-allocation procedures have been applied. A total number of 40,000,000 Shares under the Placing have been re-allocated to the Public Offer, so that the total number of Shares available under the Public Offer has been increased to 50,000,000 Shares, representing 50% of the total number of the Shares available under the Share Offer. Based on the final offer price of HK$1.00 per Share, the net proceeds from the Share Offer to be received by the Company (after deducting underwriting fees and estimated expenses in connection with the Share Offer) is estimated to be approximately HK$71.1 million.

B & S International intends to use these net proceeds for the following purposes: 1) approximately 65.6% for opening of new retail outlets; 2) approximately 17.2% for leasing and setting up new warehouse facilities of a gross floor area of approximately 30,000 sq.ft. in aggregate; 3) approximately 5.1% for upgrading its ERP system; 4) approximately 3.5% for recruitment of three additional marketing sales personnel for the distribution business; and 5) approximately 8.6% for general working capital purposes.

Lego Corporate Finance Limited is the Sole Sponsor. Lego Securities Limited is the Sole Global Coordinator and the Joint Bookrunner. Kingsway Financial Services Group Limited is the Joint Bookrunner and the Joint Lead Manager. China Galaxy International Securities (Hong Kong) Co., Limited and Brilliant Norton Securities Company Limited are the Joint Lead Managers.

Mr. Chan Kam Chuen Andrew, Chairman, Executive Director & Chief Executive Officer of the Company, said, "We believe that the result of the Share Offer has affirmed market's recognition of the Group's business and confidence in our future prospects. We are honoured that investors have shown great support to the Group. Listing on the Main Board of SEHK enables the Group to further strengthen our distribution business and retail business network, enhance our brand recognition and capture greater market share in the local food and beverage industry."

About the Group
The Group is a well-established food and beverage company, with over 27 years of operating history in Hong Kong. The Group has two business segments, namely the distribution business and the retail business. The Group offers various food and beverage products from over 100 brands during the past three years, including top brands such as "UHA" under its distribution business. Currently, the Group operates 42 retail outlets and manages one retail outlet under its retail business, including top retail brand "TenRen", which ranked first in the tea drinks chain market in Hong Kong by revenue for the period from 1 November 2016 to 31 October 2017.

For media inquiries, please contact:
Stimulus Investor Relations Ltd.
Contact: Ms. Crystal Luo / Mr. Michael Yeung
Tel: +852 3159 2926 / +852 3159 2994
Email: [email protected] / [email protected]

Topic: Press release summary

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