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SEAVI Advent’s Investee Company, Sinostar PEC Holdings Limited launches IPO

September 2007

Sinostar PEC Holdings Limited (“Sinostar”), a producer and supplier of downstream Petrochemicals on 24 September 2007 announced its initial public offering (“IPO”) at S$0.38 each. It has attracted strong demand for both the public offer and placement tranches which comprised 160.4 million shares at S$0.38 per share of which 5.0 million shares were available to the public for subscription while the remaining 155.4 million shares were for placement. Trading of the Shares of Sinostar on the Main Board of the SGX-ST will commence on 26 September 2007. The main IPO proceeds will be applied to invest in joint ventures to undertake upstream heavy oil conversion activities. This impending JV is believed to provide the Group with the necessary platform for the next phase of growth. It will not only diversify the revenue sources through the production and distribution of other derivatives such as aromatic hydrocarbons and heavy fuel oil, it will also secure and expand the Group’s raw LPG supply sources, thus further strengthening its market position.

About SEAVI Advent

SEAVI Advent is the exclusive Asia affiliate of Advent International, a global private equity fund with over US$10 billion under management. SEAVI Advent has been in partnership with Advent International since 1984. SEAVI Advent is now actively investing its regional Fund IV program which focuses its capital investing in high-growth late-stage companies and middle market buyout situations. SEAVI Advent has regional offices in Singapore, Shanghai, Beijing and Hong Kong.

About Sinostar

Strategically located within the Dongming Petrochem Industrial Zone in Dongming County of the Shandong Province, PRC, Sinostar is one of the largest producers and suppliers of downstream petrochemical products within the 400km radius of its production facilities. Situated within the Zhongyuan Oilfield – one of PRC’s largest oilfields, rich in energy resources and linked by a comprehensive logistics network, it allows the company to reach out to the nearby populous and industralised provinces such as Shandong, Henan, Anhui, Jiangsu, Shaanxi, Hebei and Zhejiang. Engaged in the fractionation of raw LPG to produce downstream petrochemicals, namely propylene, polypropylene and LPG, Sinostar’s products cater to a wide range of industrial applications and are sold mainly to manufacturers of petrochemicals ,plastic products and LPG distributors.

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