China Zenix Auto International Announces Pricing of Initial Public Offering on NYSE

ZHANGZHOU, China, May 12, 2011 /PRNewswire-Asia/ -- China Zenix Auto International Limited (NYSE: ZX) ("Zenix Auto" or the "Company"), the largest commercial vehicle wheel manufacturer in China in both the aftermarket and OEM market by sales volume, today announced that it has priced its initial public offering of 12,900,000 American depositary shares ("ADSs"), each representing four ordinary shares of the Company, at US$6.00 per ADS, with a total offering size of US$77.4 million, assuming no exercise of the over-allotment option by the underwriters. The ADSs began trading on the New York Stock Exchange on Wednesday, May 11, 2011 under the symbol "ZX".

Of the 12,900,000 ADSs being offered, 11,610,000 ADSs are offered by Zenix Auto and 1,290,000 ADSs are offered by a selling shareholder. Two selling shareholders in the offering have granted the underwriters a 30-day option to purchase up to an additional 1,935,000 ADSs at the initial public offering price to cover over-allotments, if any.

Morgan Stanley acted as sole bookrunner, and William Blair & Company and Oppenheimer & Co. acted as co-managers, for the offering. 

Zenix Auto's registration statement relating to the initial public offering has been filed with, and declared effective by, the United States Securities and Exchange Commission. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of these securities, in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The offering of the securities is made only by means of a prospectus forming a part of the effective registration statement. A copy of the prospectus relating to the offering may be obtained by contacting Morgan Stanley & Co. Incorporated, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014, United States, by calling +1-866-718-1649 or by emailing [email protected].

About China Zenix Auto International Limited

China Zenix Auto International Limited is the largest commercial vehicle wheel manufacturer in China in both the aftermarket and OEM market by sales volume. With a large intellectual property portfolio, the Company offers more than 230 series of tubed steel wheels, tubeless steel wheels, and off-road steel wheels. Zenix Auto's customers include group members of a number of large PRC commercial vehicle manufacturers, and it also exports products to more than 30 countries worldwide. With five strategically located manufacturing facilities in multiple regions across China, the Company has an aggregate annual production capacity of approximately 12.5 million units of steel wheels as of December 31, 2010. For more information, please visit: http://www.zenixauto.com/en.

SOURCE China Zenix Auto International Limited

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