Funtalk China Holdings Limited (“Funtalk” or the “Company”) (Nasdaq: FTLK) today announced that its public offering of 7,000,000 ordinary shares was closed on October 29, 2010. The Company received aggregate net proceeds of approximately $46.6 million, after deducting underwriting discounts.
The Company intends to use the net proceeds it received from this offering to expand its retail network, including acquiring interests in other retail chains and establishment of new retail outlets.
BofA Merrill Lynch and Jefferies & Company acted as joint bookrunners. Oppenheimer & Co., Roth Capital Partners and Rodman & Renshaw served as co-managers for this offering.
The Company conducted the offering pursuant to a registration statement on Form F-1 initially filed with the Securities and Exchange Commission on July 9, 2010. The offering was made only by means of a prospectus. This press release shall not constitute an offer to sell, or a solicitation of an offer to buy, the securities described herein, nor shall there be any offer, solicitation or 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.
Copies of the final prospectus may be obtained from BofA Merrill Lynch, 4 World Financial Center, New York, NY 10080, Attention: Prospectus Department, or by e-mail to firstname.lastname@example.org, and from Jefferies & Company, 520 Madison Avenue, 12th Floor, Syndicate Middle Office, New York, NY 10022, Attention: Stephen M. Ficara, or by phone at 212-284-3418, or by e-mail to email@example.com. An electronic copy of the Company’s registration statement on Form F-1 and the final prospectus is also available on the web site of the Securities and Exchange Commission at http://www.sec.gov.
About Funtalk China Holdings Limited
The Company is a retailer and distributor of wireless communications devices and accessories in China. The Company has branch offices and regional distribution centers, operates a chain of mobile phone retail stores, and has an internet retailing platform.