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Jiayuan International discloses full exercise of IPO's overallotment option

Jiayuan InternationalGroup said March 30 that CCB International Capital Ltd. fully exercisedits overallotment option for the Chinese company's IPO.

On behalf of the international underwriters, CCB Internationalsubscribed for an aggregate of 67,500,000 shares, or 15% of the total number ofthe offer shares available under the global offering prior to the exercise of theoverallotment option.

Jiayuan issued the overallotment shares at HK$2.48 per share.The company recorded around HK$167.4 million of additional net proceeds from theissuance of overallotment shares.

The company added that CCB International will use the overallotmentshares to return 67,500,000 shares that it borrowed from Mingyuan Investment underthe stock borrowing agreement, which were used to cover overallocations in the internationalplacing.

Public shareholders will own approximately 27.7% of the issuedshare capital of the company, immediately after the allotment and issuance of theoverallotment shares.

Further, Jiayuan gained the approval of the Hong Kong bourse'slisting committee for the listing and permission to deal in the overallotment shares.Dealings in the overallotment shares on the stock market's main board were expectedto start at 9 a.m., local time, on March 31.

CCB International Capital Ltd. and Haitong International SecuritiesCo. Ltd serve as the joint book runners and joint lead managers of the IPO, whileBOSC International Co. Ltd. acts as the co-lead manager. CCB International is thesole sponsor and global coordinator of the offering, as reportedly previously.