Grand Talents Group Holdings Limited Announces Its Subscription Results; Recorded Approximately 14 Times of Over-subscription for Its Public Offer

HONG
KONG, CHINA – Media OutReach – 12
October 2018 – Grand Talents Group Holdings Limited (“Grand Talents Group”, together
with its subsidiaries, the
“Group”; stock code: 8516),
a local
subcontractor engaged in
civil engineering works, announced
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 over-subscribed by approximately
14 times. The final offer price per Share has been set at HK$0.40 per Share. Dealings in the Shares on GEM of the Stock Exchange of Hong Kong Limited
(“SEHK”) are expected to
commence on 15 October 2018 (Monday).

 

Based on
the final offer price
of HK$0.40 per Share, the
net proceeds from the Share Offer to be received by Grand Talents Group (after
deducting underwriting fees and estimated expenses in connection with the Share Offer) is estimated to be approximately HK$23.5 million.

 

Grand Talents Group intends to use these net
proceeds for the following purposes: 1) approximately 37.4% to acquire additional machinery and equipment; 2)
approximately 39.6% for strengthening its manpower to ensure sufficient
manpower for the newly awarded projects; 3) approximately 21.3% will be earmarked to take out surety/performance
bonds issued by banks or authorised insurers in the amount of certain
percentage of the contract sum in favour of customers for potential projects; 4) approximately 1.7%
for general working capital purposes.

 

Pulsar Capital Limited is the Sole
Sponsor. Sun International Securities Limited is the Sole Bookrunner and the
Joint Lead Manager. Elstone
Securities Limited is the Joint Lead
Manager.

 

Mr. Ha Chak Hung, Chairman and Executive Director of Grand Talents
Group, said, “we believe that the result of the
Share Offer has affirmed market’s recognition of the Group’s
future prospects. Listing on GEM of SEHK
enables
the Group to further
strengthen our equipment and manpower,
and cater for the growing demand and Government expenditure in the civil engineering industry.”

About Grand Talents Group Holdings Limited

Grand Talents Group Holdings Limited is a civil engineering subcontractor
with over eight years of experience in Hong Kong. It principally repairs and
maintains structures of roads and highways in Hong Kong. Since 2013, it has extended its services to the construction of
sewerage, waterworks and barrier-free access facilities. Grand Talents Group
recorded approximately HK$91.8 million of revenue for the year ended 31 March
2018. The Group intends to compete for repair and maintenance projects in other
regions in Hong Kong, to enhance its market and seize the opportunity of
Government expenditure in the civil engineering industry.