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NEW YORK, Oct. 28, 2010 (GLOBE NEWSWIRE) -- Le Gaga Holdings Limited ("Le Gaga") (Nasdaq:GAGA), one of the largest greenhouse vegetable producers in China as measured by the area of greenhouse coverage and one of the fastest growing major vegetable producers in China, today announced that it has priced its initial public offering of 10,871,599 American Depositary Shares (ADSs) at $9.50 per ADS. The ADSs, each representing 50 ordinary shares, will begin trading on Friday, October 29, 2010, on the NASDAQ Global Select Market under the symbol "GAGA."
The offering comprises an initial public offering of 9,200,000 ADSs by Le Gaga and an additional offering of 1,671,599 ADSs by selling shareholders of Le Gaga, as disclosed in the prospectus.
The underwriters may also purchase up to an additional 1,630,740 ADSs from certain selling shareholders at the public offering price, less underwriting discounts and commissions payable by Le Gaga, to cover over-allotments, if any, within 30 days from the date of the prospectus.
BofA Merrill Lynch and UBS Investment Bank acted as joint global coordinators and joint bookrunners for this offering, and Piper Jaffray and Oppenheimer & Co. acted as co-managers for the offering.
A copy of the prospectus relating to the offering may be obtained from BofA Merrill Lynch, 4 World Financial Center, New York, NY 10080, Attention: Prospectus Department, or by e-mail to email@example.com or from UBS Investment Bank, 299 Park Avenue, New York, NY, 10171, Attention: Prospectus Department,or by calling +1 888 827 7275.