Country Style Cooking Restaurant Chain (CCSC) |
5,000,000 American
Depositary Shares
COUNTRY STYLE COOKING
RESTAURANT CHAIN CO., LTD.
Representing
20,000,000 Ordinary Shares
This is the initial public offering of American depositary
shares, or ADSs, of Country Style Cooking Restaurant Chain Co.,
Ltd. We are selling 5,000,000 ADSs. Each ADS represents
four ordinary shares, par value $0.001 per share.
Prior to this offering, there has been no public market for the
ADSs or the ordinary shares. The initial public offering price
is $16.50 per ADS. Our ADSs have been approved for listing
on the New York Stock Exchange under the symbol
‘‘CCSC.”
We have granted the underwriters a
30-day
option to purchase up to an aggregate of 750,000 additional
ADSs from us to cover any over-allotments at the initial public
offering price less the underwriting discounts and commissions.
Investing in the ADSs involves risks. See “Risk
Factors” beginning on page 10.
http://www.sequoiacap.com/ http://www.csc100.com/ http://www.csc100.com/news/content.php?id=58 | ||
Country Style Cooking Restaurant Chain Co., Ltd.
|
Visit
StreetInsider.com at
http://www.streetinsider.com/Earnings/Country+Style+Cooking+Restaurant+Chain+%28CCSC%29+Tops+Q4+EPS+by+2c/8162948.html
for the full story.
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This company completed an initial public offering (IPO) of its stock in 2010. View articles that reference this company. Recent IPOs: Globe Specialty Metals • LogMeIn • Invesco Mortgage Capital • Medidata • Chemspec |
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The restaurant chain's average store experiences an average 1,600 customers per day. The Country Style Cooking Restaurant Chain hopes to take advantage of the rise of China's middle class as well as expansion into new geographic locations to fuel growth. The food service industry in China has grown from 1.1 trillion RMB in 2004 to 2 trillion RMB in 2009. CCSC expects that this will continue to occur as the middle class continues to grow. In particular, the company predicts that the increase in disposable income and the rise in desire for convenience and time saving will further drive customers.[2]
The company's initial public offering of stock on the NYSE and occurred on September 27, 2010. Its initial price range was $12-$14, but the price range was revised upwardly to be $14-$16. Despite this revision, the stock priced still above that range at $16.50. The company sold 5M ADS shares and raised $82.5M. The lead underwriters of the deal were Bank of America (BAC) and Credit Suisse Group (CS).
The company's total revenue increased from 231M RMB in 2008 to 494M RMB in 2009. This consists of a 114% growth in revenue year over year. Net income has also increased from 27M RMB in 2008 to 45M RMB in 2009, or a 66.67% increase. This corresponds to a net income of $6.6M.[3]
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