Statistics and information on Global Technology IPO market

1. Global Technology
IPO Review
Q1 2010
*connectedthinking
PwC

2. IPO Summary – Q1 2010
Highlights Top 10 IPOs
Issue Size Primary
Company Industry ($M) Exchange
• Global IPO activity in the first quarter of 2010
Process Control
showed substantial improvement over Q1 2009.
Sensata Technologies Instruments 569.00 NYSE
Results were driven by an ongoing robust Asian
market. Zhejiang Chint Electrics Semiconductors 368.83 Shanghai
• In the technology space, semiconductors Promethean World Software 279.77 London
dominated the number of IPO deals in the first IT Consulting &
quarter of 2010. East Money Information Services 208.07 Shenzhen
SS&C Technologies Software 161.00 Nasdaq
• China Merchant Securities was the leading
IT Consulting &
underwriter in the technology segment.
Dingli Communications Services 180.49 Shenzhen
• Shenzhen Stock Exchange led the technology
Hanwang Tech Software 165.70 Shenzhen
sector with 23 IPO issues.
Hiconics Drive Tech Semiconductors 150.14 Shenzhen
• Sensata Technologies was the largest technology
Shenzhen ZQ Network
IPO in Q1 2010 with an issue size of $569 million. Technology Software 109.86 Shenzhen
Shenzhen Haoningda
Electronic Semiconductors 106.93 Shenzhen
Source: Thomson Reuters PricewaterhouseCoopers Slide 2

3. Technology IPOs – Q1 2010
Region: AsiaPac (Shenzhen, Shanghai, Hong Kong, Taiwan)
Proceeds Primary Domicile
Period Company Sector ($ M) Exchange Nation Lead Underwriter
Nanjing Keyuan IT Consulting &
03/17/2010 Automatic Corp Services 97.13 Shenzhen China Guangfa Huafu Securities
East Money IT Consulting &
03/05/2010 Information Services 208.07 Shenzhen China China International Capital
Fujian CEE
03/05/2010 Installations Semiconductors 70.85 Shenzhen China Hongta Securities
Suzhou Goldengreen
03/05/2010 Tech Semiconductors 60.94 Shenzhen China GF Securities
IT Consulting &
03/04/2010 SureKAM High-Tech Services 71.79 Shenzhen China China Dragon Securities
Beijing Sevenstar
03/01/2010 Electro Semiconductors 80.06 Shenzhen China China Securities
Shenzhen Zowee IT Consulting &
03/01/2010 Tech Services 82.70 Shenzhen China Shenyin Wanguo
Internet
Software &
02/26/2010 Taiji Computer Services 106.22 Shenzhen China China Merchant Securities
Hangzhou
02/11/2010 Zhongheng Electric Semiconductors 54.99 Shenzhen China Huatai United Securities
02/05/2010 Hanwang Tech Software 165.70 Shenzhen China Zhong De Securities
Shenzhen ZQ
01/29/2010 Network Technology Software 109.86 Shenzhen China Not Applicable
Xiamen 35.com IT Consulting &
01/29/2010 Technology Co Ltd Services 67.24 Shenzhen China China Merchant Securities
Source: Thomson Reuters PricewaterhouseCoopers Slide 3

4. Technology IPOs – Q1 2010
Region: AsiaPac (Shenzhen, Shanghai, Hong Kong, Taiwan)
Proceeds Primary Domicile
Period Company Sector ($ M) Exchange Nation Lead Underwriter
Henan Senyuan
01/28/2010 Electric Semiconductors 83.79 Shenzhen China Huatai Securities
Shenzhen Haoningda
01/25/2010 Electronic Semiconductors 106.93 Shenzhen China China Merchant Securities
01/18/2010 Beijing CREAT Semiconductors 94.93 Shenzhen China Pingan Securities
Anhui Taier heavy
01/14/2010 Industry Semiconductors 85.70 Shenzhen China Huatai Securities
Zhejiang Chint
01/12/2010 Electrics Semiconductors 368.83 Shanghai China Guotai Junan Securities
01/07/2010 iESLab Software 80.57 Shenzhen China Haitong Securities
Dingli IT Consulting &
01/05/2010 Communications Services 180.49 Shenzhen China Pingan Securities
01/05/2010 Hiconics Drive Tech Semiconductors 150.14 Shenzhen China CITIC Securities
Hubei Tech
01/05/2010 Semiconductor Semiconductors 90.76 Shenzhen China Jinyuan Securities
IT Consulting &
01/05/2010 Hwa Create Corp Services 76.46 Shenzhen China Hongyuan Securities
Shenzhen Sunwin
01/05/2010 Electronics Semiconductors 64.46 Shenzhen China China Merchant Securities
Shenzhen Tianyuan
01/05/2010 DIC Info Software 118.67 Shenzhen China China Merchant Securities
Source: Thomson Reuters PricewaterhouseCoopers Slide 4

5. Technology IPOs – Q1 2010
Region: EMEA (London and Frankfurt)
Proceeds Primary Domicile
Period Company Sector ($ M) Exchange Nation Lead Underwriter
Goldman Sachs
Promethean World International
03/11/2010 PLC Software 279.77 London UK JP Morgan Cazenove
Source: Thomson Reuters PricewaterhouseCoopers Slide 5

6. Technology IPOs – Q1 2010
Region: US (NYSE and NASDAQ)
Proceeds Primary Domicile
Period Company Sector ($ M) Exchange Nation Lead Underwriter(s)
Morgan Stanley, Credit
Suisse, JPMorgan,
03/31/2010 SS&C Technologies Software 161.00 Nasdaq United States Deutsche Bank Securities
Computers &
03/30/2010 Meru Networks Peripherals 75.67 Nasdaq United States Merrill Lynch
Morgan Stanley
03/23/2010 MaxLinear Semiconductors 103.75 NYSE United States Deutsche Bank Securities
Process Control Morgan Stanley, Barclays
03/10/2010 Sensata Technologies Instruments 569.00 NYSE Netherlands* Capital
*Sensata Technologies is domiciled in the Netherlands but raised capital on the NYSE.
Source: Thomson Reuters PricewaterhouseCoopers Slide 6

7. Technology IPOs – Q1 2010
Offering details - Top 5
IPO Description Rationale Company Description
Sensata Technologies Proceeds from the offering to be used to Sensata Technologies Holding is a global
pay down debt and for general corporate industrial technology company engaged in
Issue Size: $569 million purposes. the development, manufacture and sale of
Country: Netherlands sensors and controls. The Company
Underwriters: Morgan Stanley, Barclays produces a range of customized sensors
Capital, Goldman Sachs, BofA, Merrill and controls for applications, such as
Lynch, JPMorgan, Citi and Credit Suisse thermal circuit breakers in aircraft, pressure
Industry: Software sensors in automotive systems, and bimetal
current and temperature control devices in
electric motors.
Zhejiang Chint Electrics Co. Ltd Proceeds to fund two electric appliance Chint is currently the leading player in the
manufacturing projects. Low-voltage electrical and Power
Issue Size: $369.4 million Transmission and Distribution industries in
Country: China China.
Underwriter: Guotai Junan Securities
Industry: Semiconductors
Promethean World Proceeds to drive Promethean’s expansion Promethean World is a developer of
which may include acquisitions. technology solutions for kindergarten,
Issue Size: $280 million primary and secondary education. More than
Country: UK 860 people comprise Promethean's global
Underwriter: Goldman Sachs, JP Morgan family, working in 15 offices around the
Industry: Software world. Promethean’s ActivClassroom
technology is today helping educate over 12
million individuals in over 500,000
classrooms in some 100 countries.
PricewaterhouseCoopers Slide 7

8. Technology IPOs – Q1 2010
Offering details – Top 5, continued
IPO Description Rationale Company Description
East Money Information Proceeds to be used to upgrade financial EastMoney.com, owned by East Money
data terminal products, form a wireless Information Co Ltd, is an online information
Issue Size: $208 million network platform, and promote wireless platform providing professional business and
Country: China mobile terminals. financial news.
Underwriter: China International Capital
Industry: IT Consulting
SS&C Technologies Holdings Proceeds to be used to pay off debt from SS&C Technologies provides the global
2005 company privatization. financial services industry with a broad
Issue Size: $161 million range of highly specialized software,
Country: US software enabled-services and software as a
Underwriter: Morgan Stanley, Credit service (SaaS) solutions for operational
Suisse, JP Morgan, Deutsche Bank excellence.
Industry: Software
PricewaterhouseCoopers Slide 8

9. Technology IPOs – Q1 2010
Geographic distribution*
China led all markets in terms of new issues for the third consecutive quarter. Of the 29 technology
companies that went public in Q1 2010, 24 were from China.
Bar = proceeds in $M
Number of IPOs [blue line]
3000 30
24
China 24
2500 25
UK 1
2000 20
In USD Million
Netherlands 1
No of IPOs
1500 15
US 3
1000 10
Total 29
500 3 5
1
1
0 0
China UK US Netherlands
* IPO is credited to the country where the company is headquartered, not the location of the
exchange.
Source: Thomson Reuters
PricewaterhouseCoopers Slide 9

10. Technology IPOs – Q1 2010
Sector distribution
Semiconductors raised the most capital - $1.4 billion - and had the highest number of offerings.
Number of IPOs [blue line]
Bar = proceeds in $M
Computers &
1600 13 14 1
Peripherals
1400 12
1200
Internet Software &
10 1
Services
In USD Million
1000 6
No of IPOs
7
8
800 IT Consulting &
7
1 6 Services
600
4 Semiconductors 13
400
1
1
200 2
Process Control
1
0 0 Instruments
Computers &
Software &
Semiconductors
IT Consulting &
Software
Process Control
Peripherals
Internet
Services
Instruments
Software 6
Services
Total 29
Source: Thomson Reuters PricewaterhouseCoopers Slide 10

11. Technology IPOs – Q1 2010
Stock exchange distribution
Shenzhen stock exchange led technology IPOs; 50% of the new issues were semiconductor
companies.
Bar = proceeds in $M
Number of IPOs [blue line]
2500 25
23
Shenzhen 23
2000 20 Shanghai 1
London 1
In USD Million
1500 15
No of IPOs
Nasdaq 2
1000 10
2
NYSE 2
500 5
Total 29
1 2 2
1
0 0
Shenzhen London Nasdaq NYSE Shanghai
Source: Thomson Reuters PricewaterhouseCoopers Slide 11

12. Technology IPOs – Q1 2010
Lead underwriter
(% of total IPOs)
Number of IPOs*
Deutsche Bank Barclays Goldman Sachs JP
3% Capital 2% Morgan
2% 2% China Merchant Sec’s 5
Morgan Credit Suisse
Stanley 1% Huatai Securities 3
4%
China Pingan Securities 2
Merchant
Morgan Stanley 1.25
Securities
18% Merrill Lynch 1
Others (1 each - China) 14
Deutsche Bank 0.75
Huatai
JP Morgan 0.75
Others Securities
(All China) 11% Barclays Capital 0.50
50%
Goldman Sachs 0.50
Pingan
Securities Credit Suisse 0.25
7%
Total 29
* Fractional IPOs result from multiple underwriters.
Source: Thomson Reuters PricewaterhouseCoopers Slide 12

13. Technology industry leaders
Raman Chitkara Xavier Cauchois – France Natalia Milchakova – Russia
Global Technology Leader (US) Phone: 33 1 5657 10 33 Phone: 7 495 967 6240
Phone: 1 408 817 3746 Email: xavier.cauchois@fr.pwc.com Email: natalia.milchakova@ru.pwc.com
Email: raman.chitkara@us.pwc.com
Hari Rajagopalachari – India Greg Unsworth – Singapore
Rod Dring – Australia Phone: 91 80 4079 002 Phone: 65 6236 3738
Phone: 61 2 8266-7865 Email: hari.rajagopalachari@in.pwc.com Email: greg.unsworth@sg.pwc.com
Email: rod.dring@au.pwc.com
Akihiko Nakamura – Japan Douglas Mahony – UAE
Estela Vieira – Brazil Phone: 81 80 3158 6693 Phone: 97 4 3043100 ext. 151
Phone: 55 1 3674-3802 Email: akihiko.nakamura@jp.pwc.com Email: douglas.mahony@ae.pwc.com
Email: estela.vieira@br.pwc.com
Yong-Won Kim – Korea Barry Murphy – UK
Alison Wong – China Phone: 82 2 709 0471 Phone: 44 20 7804 5284
Phone: 86 21 2323 2551 Email: yong-won.kim@kr.pwc.com Email: barry.murphy@uk.pwc.com
Email: alison.cy.wong@cn.pwc.com
Marcel Jakobsen – Netherlands Rob Gittings – US
Phone: 1 408 817 3730
Werner Ballhaus – Germany Phone: 31 8879 23805
Email: marcel.jakobsen@nl.pwc.com Email: robert.gittings@us.pwc.com
Phone: 49 211 981 5848
Email: werner.ballhaus@de.pwc.com
PricewaterhouseCoopers Slide 13

14. © 2010 PricewaterhouseCoopers LLP. All rights reserved. “PricewaterhouseCoopers” refers to
PricewaterhouseCoopers LLP, a Delaware limited liability partnership, or, as the context requires, the
PricewaterhouseCoopers global network or other member firms of the network, each of which is a separate and
independent legal entity.
PwC14
Slide