t6pr.com - Ford Glory Group Holdings Limited (1682)

Hong Kong, 4 October 2010 - Ford Glory Group Holdings Limited (“Ford Glory” or the “Company”; Stock code: 1682), a well-developed garment sourcing management group, today announced that its Offer Shares for the Hong Kong Public Offering on White and Yellow Application Forms were approximately 126.30 times subscribed and the International Placing has also been moderately oversubscribed. The Offer Price has been fixed at HK$0.60 per Share.

Ford Glory offered a total of 118,000,000 Shares for its Global Offering, of which 59,000,000 Shares, or 50%, were offered under the Hong Kong Public Offering, while 59,000,000 Shares, or 50%, were offered by way of an International Placing.

The proposed listing of Ford Glory represents a spin-off from Victory City International Holdings Limited (“Victory City”, Stock code: 539). The Reserved Shares for subscription by Qualifying Shareholders of Victory City were 2.21 times subscribed.

Based on the final Offer Price of HK$0.60 per Share, the net proceeds from the Global Offering is estimated to be approximately HK$52.1 million.

Mr. Choi Lin Hung, chairman and chief executive officer of Ford Glory, said: “We are pleased with the subscription results, which reflect investors’ confidence in our business prospects. With the funds raised, we will pursue growth through expanding our manufacturing facilities. We also target to diversify our business model by entering into the fast-expanding retail market in China. To this end, we aim to sell our “夢仕臣” (Monstons) brand underwear and homewear products in the PRC, targeting the mass market. Retail sales already commenced in August 2010 at approximately 200 sales points.”

About Ford Glory
Ford Glory is a well-developed garment sourcing management group with production capabilities which operates a one-stop shop business model. The Company maintains a direct client base comprising overseas brand owners/carriers, megastores, department stores and supermarket chains, mainly located in the U.S., Canada, the U.K., Mexico, Japan and the PRC. Maintaining in-house production facilities in the PRC and Indonesia, as well as outsourcing production capabilities supported by a wide and established network of sub-contract manufacturers, the Company is able to provide a broad range of garment products to cater for customised orders. CIMB Securities (HK) Limited is the bookrunner, sponsor and lead manager of the Global Offering, with Mizuho Securities Asia Limited as co-lead manager

This is not an offer of securities for sale in the United States. The securities may not be offered or sold in the United States absent registration or an exemption from registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the issuer or the selling security holder and that will contain detailed information about the company and management, as well as financial statements. Ford Glory Group Holdings Limited does not intend to register any portion of the offering in the United States or to conduct a public offering of Shares in the United States.