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China In-Focus: Longtop Financial Technologies To Offer 3.7 Million ADS

November 17, 2009 (FinancialWire) — Longtop Financial Technologies Ltd. (NYSE: LFT), a Chinese software developer, said it plans to offer 3.7 million American depositary shares. Deutsche Bank Securities (NYSE: DB) and Morgan Stanley & Co. (NYSE: MS) will act as joint bookrunners.

The company plans to grant the underwriters an option to purchase up to an additional 555,000 ADSs.

Longtop plans to use the net proceeds of the offering for potential acquisitions and for general corporate purposes.

Hong Kong-based Longtop is a software development and solutions provider targeting the financial services industry in China.

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Free annual reports, filings and conference call webcasts for companies mentioned in the news are available via Investrend Syndications ( Monday’s issued reports and/or recorded webcasts include Marine Harvest ASA (x: MHG), China GengSheng Minerals, Inc. (OTCBB: CHGS), Skystar Bio-Pharmaceutical Company (OTCBB: SKBI), Fortuna Silver Mines, Inc. (TSX Venture: FVI), LocatePLUS Holdings, Inc. (OTC: LPHC) and Premier Power Renewable Energy, Inc. (OTCBB: PPRW).

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