Investors say that the deal is being pitched at a roughly 25% discount to NAV at the mid-point of its indicative range. Offering 240 million shares, Roadshow Holdings has gone out with a HK$1.69 to HK$2.55 price range, equating to a pe range of nine to 12 times 2001 earnings. Proceeds will amount to roughly HK$550 million $70.6 million at the mid-point of the range.
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