BEIJING, Dec. 20 /Xinhua-PRNewswire/ -- VanceInfo Technologies Inc. ("VanceInfo" or the "Company") (NYSE: VIT), an IT service provider and one of the leading offshore software development companies in China, today announced that the over-allotment option granted by the Company to the underwriters for the purchase of 1,147,500 additional American Depositary Shares (ADSs) was exercised in full on December 17, 2007 by the underwriters Citi and Merrill Lynch & Co.
The sale complements the initial public offering by the Company on December 11, 2007. As a result of the initial public offering and the over-allotment option, 8,797,500 ADSs are now held publicly and the aggregate offering amount is US$74,778,750.
About VanceInfo:
VanceInfo is an IT service provider and one of the leading offshore software development companies in China. VanceInfo ranked among the top three Chinese offshore software development service providers for the North American and European markets as measured by 2006 revenues, according to International Data Corporation. VanceInfo's comprehensive range of IT services includes research and development services, enterprise solutions, application development and maintenance, quality assurance and testing, as well as globalization and localization. VanceInfo provides these services primarily to corporations headquartered in the United States, Europe, Japan and China, targeting high growth industries such as technology, telecommunications, financial services, manufacturing, retail and distribution.
Disclaimer:
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
For investor and media inquiries, please contact:
Melissa Ning
VanceInfo Technologies Inc.
Tel: +86-10-8282-5330
Email: ir@vanceinfo.com
Tip Fleming
Christensen
Tel: +852-9212-0684
Email: tfleming@ChristensenIR.com
Christopher Gustafson
Christensen
Tel: +1-602-980-0048
Email: cgus@ChristensenIR.com
