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Best Mart 360 Holdings Limited announces its subscription results Recorded approximately 9.92 times of over-subscription for its public offer

HONG
KONG, CHINA - Media OutReach - 10
January 2019 - Best Mart 360
Holdings Limited
("Best Mart 360" or the "Company", together with its
subsidiaries, the "Group"; stock code: 2360.HK), the second largest leisure
food retailer in Hong Kong for the year ended 31 March 2018, is pleased to announce
the subscription results for its shares (the "Shares") under the public offer
(the "Public Offer") and placing (the "Placing",
collectively, the "Share Offer").
The
Shares under the Public Offer have been significantly over-subscribed
by approximately
9.92 times. The offer price
per Share has been set at HK$
1.0 per Share. Dealings in
the
Shares on the Main Board of The Stock Exchange of Hong Kong
Limited ("SEHK") is expected to commence on 11 January 2019 (Friday).

 

A
total of 250,000,000 shares will be offered under the
Share Offer, of which 225,000,000 Shares, or 90%, will be offered by
way of Placing; while the remaining 10%, or 25,000,000 Shares , will be offered
under the Public Offer. Based on the final offer price of HK$
1.0
per Share, the net proceeds from the Share Offer to be received by the Company
(after deducting underwriting commissions and estimated expenses in connection
with the Share Offer) is estimated to be approximately HK$
208.9
million.

 

Best Mart 360 intends
to use these net proceeds for the following purposes: 1) approximately 66.
5%
for the opening of new retail stores; 2) approximately 13.5% for intensifying
and broadening marketing efforts; 3) approximately 10.
1%
for upgrading information technology systems; and 4) approximately 9.9% for
general working capital purposes.

 

Lego
Corporate Finance Limited is the Sole Sponsor, while Lego Securities Limited is
the Sole
Bookrunner.

 

Mr. Lin Tsz Fung,
Chairman and executive Director of the Group,
said, "We believe that the result of the Share Offer has affirmed market's recognition
of the Group's business and confidence in our future prospects.
We
are honoured that investors have shown great support
to
the Group. Listing on the Main Board of SEHK
enables the
Group to

further strengthen our
retail network, enhance our brand recognition and
capture greater market share in
the local leisure food industry."

  

About Best Mart 360 Holdings Limited

Best Mart 360 Holdings Limited, the second largest
leisure food retailer in Hong Kong
for the year ended 31 March 2018, mainly operates chain retail stores under the brand "Best Mart 360?".
It offers wide collection of imported prepackaged leisure foods and other
grocery products, principally from overseas. The Group's business objective is
to offer "Best Quality" and "Best Prices" products to customers through
continuous efforts on global procurement with a mission to provide comfortable
shopping environment and pleasurable shopping experience to customers.

 

As at 19 December 2018, the Group operates 85
retail stores that are strategically located at 18 districts in Hong Kong. The
Group sourced their products of around 495 brands and 1,960 SKUs from different
overseas suppliers mainly from Europe, US, Japan, Korea and South East Asia and
importers in Hong Kong.

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