| Ticker: | ADCC | 835 Lakeside Drive | |
| Exchange: | NASDAQ-Small Cap Market | Boca Raton, Florida 33434 | |
| Industry: | Manufacturing | (407) 482-6336 |
| Type of Shares: | Common Shares | Filing Date: | 8/13/96 | |
| U.S. Shares: | 1,200,000 | Offer Date: | 11/12/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $5.25 - $6.00 | |
| Primary Shares: | 1,200,000 | Offer Price: | $5.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.50 | |
| Offering Amount: | $6,750,000 | Selling: | $0.35 | |
| Expenses: | $447,921 | Reallowance: | $0.10 | |
| Shares Out After: | 3,500,100 |
| Manager | Tier | Phone |
| Barron Chase Securities, Inc. | Lead Manager | (800) 678-3022 |
| First London Securities Corporation | Co-manager | (206) 220-0690 |
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 6/30/96 | 6/30/95 | 6/30/96 | ||
| Revenue: | $2.72 | $1.47 | $1.36 | Assets: | $4.34 |
| Net Income: | $0.94 | $0.68 | $0.35 | Liabilities: | $1.89 |
| EPS: | $0.38 | $0.27 | $0.14 | Equity: | $2.45 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| Andean Development Corporation was organized in 1994 as a holding company to acquire Errazuriz y Asociados Ingenieros S.A. and Igenor Andina S.A., both corporations domiciled in Santiago, Chile. Andean Export Corporation, domiciled in Boca Raton, Florida, U.S.A., is a subsidiary of Andean Development Corporation. ANdean Development Corporation, E&A;, INA, and ADX are collectively referred to as the company. E&A;, organized in February 1991, specializes, as an agent, in the sale of major electrical and mechanical equipment in Chile. E&A; also offers technical assistance to, and prepares tender documents on behalf of its customers in connection with turnkey and non-turnkey public works and development projects to be constructed in CHile. Since 1991, E&A; has facilitated the sale of more than $415 million of equipment including generators, turbines and conveyors, which has generated more than $5 million of commissions for the company. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to purchase equity interests in ecology-oriented and electric utility related projects in Chile, establish offices in the U.S. and Spain, general and administrative expenses and additional working capital. |
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