BEIJING, Oct. 5 /Xinhua-PRNewswire-FirstCall/ -- China Digital TV Holding Co., Ltd. (NYSE: STV) ("China Digital TV"), the leading provider of conditional access ("CA") systems to China's rapidly growing digital television market, announced today that its initial public offering of 12,000,000 American Depositary Shares (ADSs) was priced at $16.00 per ADS. The ADSs, each representing one ordinary share, will begin trading on the New York Stock Exchange on October 5, 2007 under the symbol "STV."
The offering consists of ADSs to be issued by China Digital TV. China Digital TV has granted the underwriters a 30-day option to purchase up to an additional 1,800,000 ADSs to cover over-allotments.
Morgan Stanley and Credit Suisse acted as joint book runners for this offering, and Piper Jaffray, CIBC World Markets and Needham & Company, LLC, acted as co-managers for the offering.
The United States Securities and Exchange Commission has declared China Digital TV's registration statement relating to these securities to be effective. This news release shall not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
The offering of the securities is made only by means of a prospectus. A copy of the prospectus relating to the offering may be obtained by contacting Morgan Stanley & Co. Incorporated, 180 Varick Street, New York, New York 10014; Attention: Prospectus Department or by email at prospectus@morganstanley.com; or by contacting Credit Suisse Securities (USA) LLC, Attn: Prospectus Department, One Madison Avenue 1B, New York, NY 10010; phone: 1-800-221-1037.
About China Digital TV
Founded in 2004, China Digital TV is the leading provider of conditional access (CA) systems to China's rapidly growing digital television market. As of June 30, 2007, China Digital TV had installed CA systems at 130 digital television network operators in 26 of the 32 provinces, autonomous regions and centrally administered municipalities in the PRC. China Digital TV conducts substantially all of its business through Beijing Super TV Co., Ltd., its operating subsidiary in China, and through Beijing Novel-Tongfang Digital TV Technology Co., Ltd., a PRC company that China Digital TV controls through contractual arrangements. For more information please visit China Digital TV's IR website at http://ir.chinadtv.cn .
For investor and media inquiries, please contact:
In China:
Helen Wu
Senior Manager of Investor Relations
Tel: +86-10-8279-0021
Email: ir@chinadtv.cn
Helen Plummer
Ogilvy Public Relations Worldwide (Beijing)
Tel: +86-10-8520-3090
Email: helen.plummer@ogilvy.com
In the United States:
Mr. Jeremy Bridgman
Ogilvy Public Relations Worldwide (New York)
Tel: +1 (212) 880-5363
Email: jeremy.bridgman@ogilvypr.com
