Photo 1: Group photo of O-Net's management at the Trading HallSHARES CLOSED AT HK$3.99 PER SHARE
SURGED 37.6% OVER OFFER PRICE
(Hong Kong, 29 April 2010) - O-Net Communications (Group) Limited ("O-Net Communications", stock code: 877), a leading supplier of passive optical networking subcomponents, components, modules and subsystems used in high-speed telecommunications and data communications networks, commenced trading on the Main Board of the Stock Exchange of Hong Kong today.
O-Net Communications' shares were actively traded and recorded a favourable price today. Its share price reached an intra-day high of HK$4.06 per share and closed at HK$3.99 per share, approximately 40.0% and 37.6% higher than the offer price of HK$2.90 per share respectively. A total of approximately 267.4 million shares amounted to approximately HK$948.5 million were traded.
Mr. Austin Na, CEO and Co-Chairman of O-Net Communications said: "We are delighted at the positive reception for our IPO today, and thanks to investors for their confidence in our company. We look forward to having a brightening future as a company listed in the Stock Exchange of Hong Kong."
Photo 2: Mr. Man Chi Tam, Co-Chairman and Non-Executive Director (Left) and Mr. Austin Na Co-Chairman and CEO (Middle) presented gifts to Hong Kong Exchanges and Clearing Ltd.
O-Net Communications (Group) Limited headquartered in Shenzhen is a leading supplier of passive optical networking subcomponents, components, modules and subsystems used in high-speed telecommunications and data communications networks. The Group has four key business components, namely power management, transmission management, wavelength management and signal conditioning, and monitoring. The Group has a high quality client base including leading telecommunications system vendors such as Alcatel-Lucent and Huawei, as well as the contract manufacturers such as Ciena and Infinera. Supported by its unique vertically integrated business model, the Group delivers cost-competitive customized solutions based upon individual customer product needs and specifications.