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Rodman & Renshaw Acts as a Co-Manager to Funtalk's (Nasdaq: FTLK) Secondary Offering of 7 Million Shares

^{Published on 2010-10-26 09:00:29 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--Rodman & Renshaw, LLC, a wholly owned subsidiary of Rodman & Renshaw Capital Group, Inc. (NASDAQ: RODM), a leading full service investment bank for growth companies, today announced that it has acted as a co-manager to Funtalk China Holdings Limited (aFuntalka or the aCompanya) (Nasdaq: FTLK) secondary offering of 7 million shares. Funtalk today announced that the public offering of approximately 7,000,000 ordinary shares by it was priced at $7.00 per share. In connection with this offering, the underwriters will have an option to purchase up to an additional 1,050,000 ordinary shares from the Company.

The Company plans to use the net proceeds from the offering to expand its retail network, including acquiring interests in other retail chains and establishment of new retail outlets.

BofA Merrill Lynch and Jefferies & Company are acting as the joint bookrunners and Oppenheimer & Co., Roth Capital Partners and Rodman & Renshaw are serving as co-managers for this offering.

The Company is conducting the offering pursuant to a registration statement on Form F-1 initially filed with the Securities and Exchange Commission on July 9, 2010. The offering will be made only by means of a prospectus. This press release shall not constitute an offer to sell, or a solicitation of an offer to buy, the securities described herein, nor shall there be any offer, solicitation or sale of these securities in any state or 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.

Copies of the preliminary prospectus may be obtained from BofA Merrill Lynch, 4 World Financial Center, New York, NY 10080, Attention: Prospectus Department, or by e-mail to [ dg.prospectus_requests@baml.com ], and from Jefferies & Company, 520 Madison Avenue, 12th Floor, Syndicate Middle Office, New York, NY 10022, Attention: Stephen M. Ficara, or by phone at 212-284-3418. An electronic copy of the Companya™s registration statement on Form F-1 and the preliminary prospectus is also available on the web site of the Securities and Exchange Commission at [ http://www.sec.gov ].

About Funtalk China Holdings Limited

The Company is a retailer and distributor of wireless communications devices and accessories in China. The Company has branch offices and regional distribution centers, operates a chain of mobile phone retail stores, and has an internet retailing platform.

Funtalk China Holdings Limiteda™s Safe Harbor and Informational Statement

This press release includes forward-looking statements that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. The words "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "predict," "project," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. The Company may not actually achieve the plans, intentions or expectations disclosed in the forward-looking statements, and investors should not place undue reliance on the forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements made by the parties as a result of a number of factors, some of which may be beyond the Company's control. These factors include the risk that the Company will not use the proceeds from the offering in the manner contemplated, as well as the other risk factors detailed in the Company's filings with the Securities and Exchange Commission, including its registration statement on Form F-1, as amended from time to time. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

About Rodman & Renshaw

Rodman & Renshaw Capital Group, Inc. (NASDAQ: RODM) is a holding company with a number of direct and indirect subsidiaries, including Rodman & Renshaw, LLC.

Rodman & Renshaw is a full-service investment bank dedicated to providing corporate finance, strategic advisory and related services to public and private companies across multiple sectors and regions. Rodman also provides research and sales and trading services to institutional investors. Rodman is the leader in the PIPE (private investment in public equity) and RD (registered direct offering) transaction markets. According to Sagient Research Systems, Rodman has been ranked the #1 Placement Agent in terms of the aggregate number of PIPE and RD financing transactions completed every year since 2005.

For more information visit Rodman & Renshaw on the Internet at [ www.rodm.com ]

Rodman & Renshaw Cautionary Note Regarding Forward Looking Statements

This press release contains forward-looking statements regarding future events. In some cases, you can identify these statements by words such as amay,a amight,a awill,a ashould,a aexcept,a aplan,a aintend,a aanticipate,a abelieve,a aestimate,a apredict,a apotential,a or acontinue,a the negative of these terms and other comparable terminology. These statements involve a number of risks and uncertainties and are based on numerous assumptions involving judgments with respect to future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the Companya™s control. There are or may be important factors that could cause our actual results to materially differ from our historical results or from any future results expressed or implied by such forward looking statements.

These factors include, but are not limited to, those discussed under the section entitled aRisk Factorsa in our Annual Report on Form 10 K, filed March 16, 2010, which is available at the U.S. Securities and Exchange Commission website at [ www.sec.gov ]. The forward-looking statements in this press release are based upon management's reasonable belief as of the date hereof. The Company undertakes no obligation to revise or update publicly any forward-looking statements for any reason.

MEMBER FINRA, SIPC