Wang Lu-yen (above), chairman of main-board listing hopeful Linmark Group, announced yesterday that the global sourcing agent would offer 156 million shares, or 25 per cent of total share capital, at HK$1.68 each in its SAR flotation. This means a prospective fully diluted price-to-earnings ratio of 16.31 times based on the profit forecast of US$8 million for the year ended today. The previous year, the company's net profit grew 42 per cent to US$12.86 million, while turnover was up 19.48 per cent to US$32.49 million. The business growth was partly due to the company's extension of customers' payment terms. The company's trade receivables as of April 30 last year stood at US$8.12 million, up about 38 per cent from US$5.88 million a year ago. Such receivables further increased to US$9.47 million on October 31, its prospectus says. However, executive director Patrick Fu said that despite the receivables, Linmark had still been managing its bad-debt ratio at below 1 per cent. Linmark paid a total of US$10.8 million in dividends to its existing shareholder Roly International in the past six months from October 31 last year, its prospectus says. Linmark's shares are scheduled to be listed on the main board on May 10.