Digitel Group, an applications service provider, plans to raise up to HK$110 million $14.1 million in an intital public offering on Hong Kong's Growth Enterprise Market. The funds will be used to research and develop web-based applications and software, enhance the group's internet infrastructure, invest in potential partners and create a representative office and research facility in Guangzhou.
Hong Kong-based Digitel will sell 100 million shares for between HK$0.95 and HK$1.10 each. The company presented to investors in Hong Kong last Thursday and this week is doing the same in Singapore. William Wu, head of corporate finance at lead manager e2-Capital, says the book was already covered...
