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Strategies & Market Trends : Greater China Junior Stocks

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From: Julius Wong	9/7/2008 2:28:36 PM
	of 1992

Pansoft hopes to raise $8.4M in IPO next week Friday September 5, 6:20 pm ET Chinese software company Pansoft hopes to raise $8.4 million in IPO slated for next week SAN FRANCISCO (AP) -- Pansoft Co., a business software maker whose primary customers are oil and gas companies in China, said Friday it hopes to raise $8.4 million in a limited initial public offering of stock next week. The Jinan, China-based company said that the 1.2 million shares it's offering are being priced at $7 per share. They are scheduled to being trading Sept. 9 on the NASDAQ under the ticker symbol "PSOF." Pansoft sells software that allows companies to access multiple applications, such as accounting or payroll programs, from a single database. The company was founded in 2001 and has 120 employees. The Richmond, Va.-based investment firm of Anderson & Strudwick Inc. was named as the sole placement agent for the IPO, which means it's responsible for finding investors in the shares. Pansoft has given the firm the right to purchase up to 120,000 common shares at the exercise price of $8.40 per share for four years after the IPO closes. biz.yahoo.com

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