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: [email protected]
Stephanie Liu Tel: (852) 2864 4852 Email: [email protected]
Nelda Lai Tel: (852) 2114 4903 Email: [email protected]
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
Fernando Alonso Keeps an Eye on Dakar with TOYOTA GAZOO Racing  
Aug 20, 2019 16:06 HKT/SGT
MHIEC Receives Order to Refurbish the Hiroshima Naka Waste to Energy Plant  
Aug 20, 2019 10:09 HKT/SGT
IVD Medical announces 2019 Interim Results; Profit surges 897.3% to RMB 350 million  
Aug 20, 2019 09:55 HKT/SGT
Four HKTDC August fairs and ICMCM draw to a close  
Aug 19, 2019 20:00 HKT/SGT
Sino-US trade talks resume but outcome still uncertain  
Aug 19, 2019 20:00 HKT/SGT
Student Group Looks to Hold Night Festival to Help Increase Tourism to Kouri Island, Okinawa  
Aug 19, 2019 18:00 HKT/SGT
JCB partners with EVO Payments to enable JCB card acceptance for merchants in the UK and Ireland  
Aug 19, 2019 16:00 HKT/SGT
New Combustor Center for Manufacturing Aero Engine Parts to be Established within MHI's Nagasaki Shipyard & Machinery Works  
Aug 19, 2019 11:49 HKT/SGT
China Medical System Holdings Limited 2019 Interim Results Announcement  
Aug 16, 2019 21:19 HKT/SGT
Toyota Yaris WRC Ready to Master the Varied Roads of Germany  
Aug 16, 2019 19:13 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 6859 8575

Connect With us: