| MAS Technology Ltd. | |||
| Ticker: | MASSY | 24 Bridge Street Lower Hutt | |
| Exchange: | NASDAQ-National Market | Wellington, NEWZ | |
| Industry: | Manufacturing (SIC Code 3663) | ||
| Type of Shares: | American Depositary Receipts | Filing Date: | 5/22/97 | |
| U.S. Shares: | 2,000,000 | Offer Date: | 6/20/97 | |
| Non-U.S. Shares: | 0 | Filing Range: | $12.00 - $14.00 | |
| Primary Shares: | 2,000,000 | Offer Price: | $14.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.98 | |
| Offering Amount: | $26,000,000 | Selling: | $0.55 | |
| Expenses: | $1,615,000 | Reallowance: | $0.10 | |
| Shares Out After: | 6,500,000 |
| Manager | Tier | Phone |
| Hambrecht & Quist Incorporated | Lead Manager | (415) 439-3626 |
| Oppenheimer & Company, Inc. | Co-manager | (212) 667-7400 |
| Issuer's Law Firm: | Brobeck, Phleger & Harrison |
| Bank's Law Firm: | Gunderson Dettmer Stough Villeneuve Franklin |
Dollar amounts in U.S. millions except for per share data | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 3/31/97 | 3/31/97 | ||||
| Revenue: | $35.65 | Assets: | $23.85 | ||
| Net Income: | $2.15 | Curr Assets: | $19.78 | ||
| EPS: | $0.51 | Liabilities: | $15.99 | ||
| Prior EPS: | Curr Liabilities: | $15.96 | |||
| Cash Flow/Oper: | Equity: | $7.86 | |||
| Cash Flow/Fin: | Cash: | $0.01 | |||
| Cash Flow/Inv: | Working Cap: | $3.82 | |||
| Business Description |
| The company designs, manufactures, markets and supports low and medium frequency, medium to long haul digital microwave radio links for use in the worldwide telecommunications market. The company's DXR systems are used a digital links by network operators to interconnect wired and wireless networks, including cellular and local loop systems with switching centers and are used by telephone companies to provide voice and data services to their customers. The integrated architecture and substantial software content of the company's systems are designed to offer cost-effective, high-performance products with a high degree of flexibility and functionality. Sales of the company's DXR products and related services during fiscal years 1995, 1996 and 1996 accounted for 27.7%, 54.5% and 63.8% of sales, respectively. The company's products have been installed in more than 100 customer networks in approximately 40 countries worldwide. The company provides a broad rangeof highly reliable, standards-compliant microwave transmission systems and complementary services. The company's initial product family, the DXR 200 provides an integrated, modular, networking solution for a wide variety of communications systems in markets with low to medium capaicty transmission requirements. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to repay outstanding short term debt and for working capital and other general corporate purposes. |