Listing set for Capinfo
Beijing-backed Internet start-up Capinfo is to list on the Growth Enterprise Market on Friday. The listing will include the placement of 710 million H shares at 48 HK cents each to raise HK$341 million. The shares - 645 million new and 64.5 million existing - will be placed with institutional investors. They represent about 25 per cent of the company's total 2.84 billion shares and have already been 2.8 times subscribed. According to the listing prospectus, last year the Internet solutions provider made a net loss of 6.15 million yuan (about HK$5.76 million), down from a profit of 3.99 million yuan in 1999. For the first seven months of this year, Capinfo posted a net loss of 10.51 million yuan on turnover of 56.31 million yuan. Part of the listing proceeds will go towards the expansion and maintenance of the Capital Public Information Platform.