July 22, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — Camelot Information Systems, Inc. (NYSE: CIS), said that its initial public offering of 13,333,334 American Depositary Shares, each representing four ordinary shares, was priced at $11.00 per ADS. Goldman Sachs L.L.C. (NYSE: GS) is acting as sole global coordinator and joint bookrunner. The ADSs began trading on July 21, 2010 on the New York Stock Exchange under the symbol "CIS."

Of the 13,333,334 ADSs sold in the offering, 9,166,667 ADSs were sold by Camelot and the remainder by the selling shareholders. The selling shareholders have granted the underwriters a 30-day over-allotment option to purchase up to an additional two million ADSs. The total size of the offering is around $146.7 million, and if the over-allotment option is exercised in full the total size of the offering will be $168.7 million.

The net proceeds to Camelot from the sale of the ADSs are around $89.8 million. Camelot plans to use the net proceeds for working capital and general corporate purposes, as well as to fund possible future strategic acquisitions.

China-based Camelot provides enterprise application services and financial industry information technology services in China, focusing on the high end of the IT value chain.

The company claims to be the largest domestic provider of SAP-based Enterprise Resource Planning services in China as measured by 2009 revenue and by number of SAP consultants as of December 31, 2009.

Camelot also operates in other areas of the Asia Pacific region, including Taiwan and Japan. The company provides services to a range of industries, including financial services, resources and energy, manufacturing and automobile, technology, as well as telecommunication, media and education.

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