Duoyuan Printing, Inc. Announces Pricing of Initial Public Offering
BEIJING, Nov. 6 /PRNewswire-Asia-FirstCall/ -- Duoyuan Printing, Inc.
("Duoyuan" or the "Company") (NYSE: DYP), a leading offset printing equipment
supplier in China, today announced the pricing of its initial public offering
of 6,455,918 shares at a price of $8.50 per share, including 955,918 shares
being offered by the selling shareholders. The Company has granted the
underwriters an option to purchase up to an additional 968,388 shares of
common stock to cover over-allotments, if any. Duoyuan's common stock is
expected to begin trading on November 6, 2009 on the New York Stock Exchange
under the symbol "DYP."
Piper Jaffray & Co. acted as the sole book-running manager for the
offering, and Roth Capital Partners, LLC acted as the co-manager for the
offering. The offering is expected to close on November 12, 2009.
The Company intends to use the net proceeds of approximately $42.3 million
to build a factory to manufacture cold-set corrugated paper machines at its
Langfang Duoyuan facility, to improve and upgrade its existing manufacturing
facilities and production lines and for general corporate purposes.
A copy of the prospectus relating to the offering may be obtained by
contacting: Piper Jaffray & Co., 800 Nicollet Mall, Minneapolis, MN 55402,
Attn: Equity Capital Markets (800-754-4781).
A registration statement relating to the offering was filed with and
declared effective on November 5, 2009 by the Securities and Exchange
Commission. This press release shall not constitute an offer to sell or
solicitation of an offer to buy, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer, solicitation, or
sale would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About Duoyuan Printing, Inc.
Duoyuan Printing, Inc. is a Wyoming corporation and a leading offset
printing equipment supplier in China, headquartered in Beijing. Through its
principal operating subsidiary, Duoyuan Digital Press Technology Industries
(China) Co., Ltd., or Duoyuan China, and Duoyuan China's manufacturing
subsidiaries, namely Langfang Duoyuan Digital Technology Co., Ltd. and Hunan
Duoyuan Printing Machinery Co., Ltd., the Company designs, manufactures and
sells offset printing equipment used in the offset printing process. For more
information, please visit the Company's website at http://www.duoyuan.com .
