Top Page | English | 简体中文 | 繁體中文 | 한국어 | 日本語
Thursday, 4 May 2017, 09:00 HKT/SGT

Source: Okura Holdings Limited
Okura Holdings Limited Has Commenced Public Offering on 28 April 2017
Public Offer of 125,000,000 Shares;
Offer Price Ranges from HK$0.90 to HK$1.20 per Share

HONG KONG, May 4, 2017 - (ACN Newswire) - Okura Holdings Limited ("Okura" or the "Group"), a pachinko hall operator in Japan, has commenced the Hong Kong Public Offer on 28 April 2017.

Offering Details

Okura intends to offer a total of 125,000,000 Shares, of which 90% of the Offer Shares, or 112,500,000 Shares, are for Placing Shares (subject to re-allocation); and the remaining 10% of the Offer Shares, or 12,500,000 Shares, are for the Hong Kong Public Offer (subject to re-allocation). After deducting underwriting fees and other estimated expenses in relation to the Share Offer, the net proceeds which the Group will receive from the Share Offer is estimated to be approximately HK$55.2 million (equivalent to approximately JPY783.8 million), assuming an Offer Price of HK$1.05, being the mid-point of the indicative Offer Price range of HK$0.90 to HK$1.20.

The Hong Kong Public Offer commenced at 9:00 a.m. on 28 April 2017 (Friday), and will end at 12:00 noon on 8 May 2017 (Monday). The final Offer Price, the level of indication of interest in the Placing, the level of applications in the Hong Kong Public Offer and the basis of the allocation of the Hong Kong Public Offer Shares, are expected to be announced on 12 May 2017 (Friday). Dealings in Okura's Shares on the SEHK will commence at 9:00 a.m. on 15 May 2017 (Monday) under the stock code 1655. Shares will be traded in board lots of 5,000 Shares.

Altus Capital Limited is the Sponsor. Crosby Securities Limited is the Sole Bookrunner and Lead Manager.

Growth Strategies

The Group aims to capture a greater share of the pachinko industry by actively pursuing expansion opportunities through establishing new or acquiring pachinko halls in desirable locations as consolidation opportunities arise. Meanwhile, the Group also places significant focus on customer experience thereby enhancing recurring visits. To achieve this, the Group conducts analysis on customer preferences and acquires machines that generate most customers' interests from customer and hence higher customer traffic. Furthermore, the Group is also committed to provide a refreshing and spacious environment to customers with quality customer services.

As a mid-sized Pachinko Hall Operator, Okura is well-positioned to capitalise on the consolidation opportunities in the pachinko industry and expand its business in line with the strategies set out above. In addition, the Group believes that the Listing will enable them to raise corporate profile, enhance capital base and diversify fund raising channels to facilitate such planned expansion.

Use of Net Proceeds

Assuming an Offer Price of HK$1.05 (being the mid-point of the indicative Offer Price range), the estimated net proceeds are expected to be approximately HK$55.2 million (equivalent to approximately JPY783.8 million), intended to be applied for the following purposes:

Uses / Amount (HK$ million) / Amount (JPY million) / Percentage(%)

- Establishing a flagship pachinko hall in the Kyushu region with around 800 machines / 27.6 / 391.9 / 50.0
- Renovating different parts of six pachinko halls during the year ending 30 June 2018 and eight pachinko halls during the year ending 30 June 2019 (two additional pachinko halls on top of the six halls during the year ending 30 June 2018) / 22.1 / 313.5 / 40.0
- Working capital and other general corporate purposes / 5.5 / 78.4 / 10.0
Total: 100%

About Okura Holdings Limited
Okura Holdings Limited ("Okura") is a pachinko hall operator in Japan. Okura opened its first pachinko hall in Nagasaki in 1968, in which its headquarters has since been located. Okura is a mid-sized pachinko hall operator with halls operating across Japan in Kyushu region, Kanto region, Kansai region and the Chugoku region.

For media enquiries, please contact:
Strategic Financial Relations Limited
Vicky Lee Tel: (852) 2864 4834 Email:
Stephanie Liu Tel: (852) 2864 4852 Email:
Nelda Lai Tel: (852) 2114 4903 Email:
Fax: (852) 2527 1196

May 4, 2017 09:00 HKT/SGT
Topic: Press release summary
Sectors: Daily Finance, Daily News
From the Asia Corporate News Network

Copyright © 2019 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.

Latest Press Releases
Lubrizol Showcases Halogen-free Flame Retardant TPU Solutions at Cable 2019 Conference  
Feb 21, 2019 00:00 HKT/SGT
BDO announces winners of the BDO ESG Awards 2019  
Feb 20, 2019 22:45 HKT/SGT
Bossini Announces 2018/19 Interim Results   
Feb 20, 2019 20:17 HKT/SGT
NEC Launches NEC 5G Vertical Business Platform  
Feb 20, 2019 15:43 HKT/SGT
Leyou Technologies Enters into Shares Purchase Agreement with Meitu, Inc.  
Feb 20, 2019 15:20 HKT/SGT
Prince of Songkla University (Thailand) and Hitachi Jointly Develop Sentiment Analysis Engine for Thai Language  
Feb 20, 2019 15:03 HKT/SGT
Four Hong Kong designers debut at London Fashion Week  
Feb 20, 2019 15:00 HKT/SGT
Hong Kong Jewellery Design Competition winners revealed  
Feb 20, 2019 15:00 HKT/SGT
Premium Sun refutes allegations that it improperly holds on to PT Bintang's land  
Feb 20, 2019 14:40 HKT/SGT
MHI Thermal Systems Establishes Centrifugal Chiller, Air-Conditioner and Heat Pump Water Heater Construction and Engineering Company in China  
Feb 20, 2019 10:21 HKT/SGT
More Press release >>
More >>
 News Alerts
Copyright © 2019 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Privacy Policy | Terms of Use | RSS
US: +1 800 291 0906 | Beijing: +86 400 879 3881 | Hong Kong: +852 2217 2912 | Singapore: +65 6304 8926 | Tokyo: +81 3 6721 7212

Connect With us: