Blue Cursor Acquisition Huntsworth

"The blue cursor is about market capitalisation, and market capitalisation = Profit x P/E, after the acquisition of Beijing Bojie advertising can thicken corporate profits, the company will continue to use mergers and acquisitions strategy to increase market capitalisation." "This week, the blue cursor (300058, the former closing price of 38.47 Yuan), director, Vice-President and Dong Xuzhiping at the company's annual shareholder meeting, said.

Voice just fell, the blue cursor came the merger message. Today, the company announced a capital of about 350 million yuan, to subscribe to the London Stock Exchange listed Huntsworth Company's newly issued 63 million new shares, after the subscription is completed, the blue cursor holds a 19.8% stake in Huntsworth company.

Less than 9 times times earnings per share

Today, the blue cursor is announced to be a wholly-owned subsidiary of Hong Kong label to 58 pence/share price for the Huntsworth company's new issue of 63 million shares, a total of approximately RMB 350 million yuan, after the completion of the subscription, Hong Kong label will hold a 19.8% stake in Huntsworth company.

Data show that Huntsworth is currently listed on the London Stock Exchange and has 72 offices in 32 countries and regions. Its operations focus on consumer, science and technology, financial services, government and public services, health care, food and beverages. Huntsworth has four brands. Graylling is the second largest independent public relations, public affairs, investor relations and activities consultancy company in the world; Citigate is responsible for the services of IPO and M&A areas; Red is the best PR company in the UK consumer goods field; Huntsworthhealth is responsible for medical marketing and PR services.

Huntsworth earnings show that its 2011, 2012 total assets reached 3.424 billion yuan, 3.336 billion yuan, net profit of 148 million yuan, 164 million yuan respectively.

Since its annual report discloses only shareholders with a stake of more than 3%, not all of the top 10 shareholders, so from the public information, the blue cursor will be ranked as the largest shareholder in Huntsworth with a 19.8% per cent stake after the subscription is completed. Blue cursor previously in the acquisition of Bojie advertising, because the value of the acquisition rate of up to 6 times times, once sparked a market debate, but the purchase price appears to be more "affordable": the blue Cursor, the acquisition of the final price of 58 pence/shares, This price is relative to Huntsworth 8.6 times times the static P/E ratio in 2012, while the 2013 dynamic P/E ratio is 8.2 times times.

It is noteworthy that the subscription was completed by a wholly-owned subsidiary, the Hong Kong Blue label, and Xuzhiping has introduced that Hong Kong label is also the company's main base for future business development in Hong Kong.

A quarterly asset-liability ratio of 40%/

Blue Cursor Chairman and general Manager Zhao Wenjuan said that the company's customers are mainly in the IT, automotive, consumer goods and real estate and other fields, while Huntsworth in Europe, the Middle East and North America have a sound network, and in medicine and financial services and other fields have a certain advantage, the cooperation between the two sides is complementary, The acquisition is historic in the history of the company.

According to the daily economic news reporter statistics, since the blue cursor since the listing, although the merger and acquisition of 9 companies, but in the acquisition of overseas companies, it is not as good as in the domestic "static and dynamic", currently only shares the Singapore financial PR, Hong Kong Hall PR.

GF Securities Communications Industry researcher pointed out that the company hopes that the future overseas market income ratio can reach 30%, and business development process will be limited to consider developed countries, or through investment, mergers and acquisitions approach. As a result of the IPO since the merger frequently, further increase the demand for funds, as at the end of 2012, the Blue cursor book money balance of 688 million yuan. and the acquisition of Bojie advertising, capital increase is expected to cost about 370 million yuan, the acquisition of Huntsworth shares will spend about 350 million yuan. But the company announced earlier this month that no more than 580 million yuan of short-term financing coupons, and the company acquired Bojie Advertising will use the supporting financing function, its financial position may still be controllable. Blue Cursor One quarterly bulletin shows that the asset-liability ratio is 40.3%.