Dixon opened the stock price break broke down nearly 5%

DoNews, July 8 (Reporter Zhou Qin Yan) On July 8, Di Xin Tong, a domestic mobile communications chain company, was listed on the Main Board of HKEx under the stock code 06188.HK with an issue price of HK $ 5.3 and issued approximately 167 million shares, raising about 797 million yuan Hong Kong dollar (about 638 million yuan). Today, Di letter opened at 5.3 Hong Kong dollars, but after the opening price continued to plunge, less than ten minutes break. As of 10:00 am, Di Xin Tong shares reported 5.04 Hong Kong dollars, compared with 5.3 Hong Kong dollar issue price fell 4.91%.

As China's old mobile communications chain stores, Di ICT had previously planned in Hong Kong, China and domestic A-share market, were unsuccessful. The Di ICT to Hong Kong listing, plans to sell 167 million shares worldwide, of which 16.667 million shares for sale in Hong Kong, the international sale of 150 million shares.

The prospectus shows that after the listing of DiComcom, it plans to spend 56% of its proceeds on the expansion of its retail and distribution network, 14% on loan repayments, 9% on upgrading information systems, 7% on new stores and new mainland call centers, 6% develop mobile Internet projects, 8% for general working capital. More than half of the total IPO proceeds will be used to expand channels, only 7% for the development of virtual carrier-related businesses, 6% for the development of mobile Internet. After the listing of Di ICT plans to expand 2,000 stores across the country in 2 years to 2016 to achieve the coverage of 5,000 stores throughout the country.

Di ICT currently has 106 subsidiaries, of which 101 are wholly-owned subsidiaries, the other five are holding subsidiaries. As of April 30, 2014, Di Xin Tong opened 1512 stores across 21 provinces and four municipalities. And in December last year received a virtual operator license, in May 2014 to open the 170 number pre-sale, the recent large-scale release numbers. (Finish)