Camelot Information Systems Inc. Announces Pricing of Follow-on Public Offering

Dec 09, 2010, 22:52 ET from Camelot Information Systems Inc.

BEIJING, Dec. 9, 2010 /PRNewswire-Asia-FirstCall/ -- Camelot Information Systems Inc. ("Camelot" or the "Company") (NYSE: CIS), a leading domestic provider of enterprise application services and financial industry information technology services in China, today announced that its follow-on public offering of 7,160,206 American Depositary Shares ("ADSs") by certain pre-IPO financial investors of Camelot was priced at US$19.50 per ADS. Each ADS represents four ordinary shares of the Company. In connection with this offering, the underwriters have been granted the option to purchase up to an aggregate of 1,074,030 additional ADSs from the Company at the public offering price, less the underwriting discount, within 30 days from today.

The Company will not receive any proceeds from the sale of the ADSs by the selling shareholders, but if the option to purchase additional ADSs is exercised in full by the underwriters, the net proceeds to the Company will be approximately US$19.9 million. Goldman Sachs (Asia) L.L.C. and Barclays Capital are acting as Joint Bookrunners for the offering. William Blair & Company, Cowen and Company and Oppenheimer & Co. are acting as Co-Managers.

A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission on December 9, 2010. This press 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 offer, solicitation or 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.

This offering is being made only by means of a written prospectus forming the effective registration statement. A copy of the prospectus related to this offering may be obtained by contacting Goldman Sachs at Goldman, Sachs & Co., Attention: Prospectus Department, 200 West Street, New York, NY 10282, telephone (212) 902-1171, or by e-mailing Prospectus-NY@ny.email.gs.com or by contacting Barclays Capital at Barclays Capital Inc. c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone (888) 603-5847, or by e-mailing Barclaysprospectus@broadridge.com.

Forward Looking Statements

This press release contains statements that may constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements involve a number of risks and uncertainties that could cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. Further information regarding these and other risks is included in Camelot's filings with the U.S. Securities and Exchange Commission, including its registration statement on Form F-1, as amended from time to time. Camelot does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.

About Camelot Information Systems Inc.

Camelot is a leading domestic provider of enterprise application services and financial industry information technology ("IT") services in China, focusing on the high end of the IT value chain. The Company is the largest domestic provider of SAP-based Enterprise Resource Planning services in China as measured by 2009 revenue and by number of SAP consultants as of December 31, 2009. Camelot also operates in other areas of the Asia Pacific region, including Taiwan and Japan. The Company provides services to a wide range of industries, including financial services, resources and energy, manufacturing and automobile, technology, as well as telecommunication, media and education. For more information about Camelot Information Systems Inc., please visit www.camelotchina.com  

Contacts:

Camelot Information Systems Inc.

Gordon Lau, Chief Financial Officer

Tel: +86 10 5810 0808

Email: investors@camelotchina.com

Camelot Information Systems Inc.

Jojo Guo, Investor Relations Manager

Tel: +86 10 5810 0870

Email: investors@camelotchina.com

Investor Relations (Hong Kong)

Ruby Yim, Managing Director

Taylor Rafferty

Tel: +852 3196 3712

Email: camelot@taylor-rafferty.com

Investor Relations (US)

Mahmoud Siddig, Director

Taylor Rafferty

Tel: +1 212 889 4350

Email: camelot@taylor-rafferty.com

SOURCE Camelot Information Systems Inc.



RELATED LINKS

http://www.camelotchina.com