This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Stock Offerings: Funtalk China

BOSTON ( TheStreet) -- Funtalk China (FTLK) shares fell at the start of trading Tuesday after the company announced a public offering of common shares.

Funtalk China said it intends to offer 10.39 million ordinary shares in a public offering, with proceeds to be used to expand its retail network. underwriters will have an option to purchase up to an additional 1.55 million ordinary shares, the company said.

In addition, selling shareholders intend to offer approximately 1.61 million ordinary shares of Funtalk China, although the company will not see any proceeds from any offering by shareholders.

Funtalk China shares were lately down 2 cents, or 0.3%, to $6.89. The stock touched an intraday low of $6.50 earlier in the session.

Elsewhere, Vantage Drilling (VTG - Get Report) said it intends to offer $50 million of ordinary shares, and that underwriters of the offering have the option to purchase an additional $7.5 million of ordinary shares to cover overallotments. Concurrently, Vantage's subsidiary Offshore Group Investment will offer $960 million in senior secured notes due 2015.

Vantage said the consummation of the public offering of common shares is conditioned upon the closing of Offshore's note offering and the closing of Vantage's previously announced acquisition of the 55% interest in Mandarin Drilling. Net proceeds from the concurrent offerings will be used to fund the acquisition, with the remainder to be used to repay debt and for remaining construction payments.

Vantage Drilling shares were falling by 6 cents, or 5.1%, to $1.03. Earlier in Tuesday's trading session the stock fell to a new 52-week low of 99 cents.

Additionally, PharmAthene (PIP - Get Report) said it will sell $3.9 million of its common stock and warrants to an existing institutional investor through a registered direct offering.

PharmAthene said it will sell approximately 2.78 million newly issued shares of its common stock at $1.40 per share and warrants to purchase about 1.32 million shares of its common stock at an exercise price of $1.63 per share.

PharmAthene shares fell by 11 cents, or 6.8%, to $1.52.

-- Written by Robert Holmes in Boston.

Follow Robert Holmes on Twitter and become a fan of TheStreet.com on Facebook.

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
PIP $1.77 1.14%
VTG $0.36 -1.81%
AAPL $126.41 -1.66%
FB $81.21 0.39%
GOOG $575.33 0.34%

Markets

DOW 18,135.72 +38.82 0.21%
S&P 500 2,101.04 +2.51 0.12%
NASDAQ 4,982.8090 +15.6680 0.32%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs