DGAP-News: VSG Vange Software Group AG: Offering for the IPO begins on 8 June
(firmenpresse) - DGAP-News: VSG Vange Software Group AG / Key word(s): IPO
VSG Vange Software Group AG: Offering for the IPO begins on 8 June
06.06.2012 / 16:19
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Vange Software Group AG: Offering for the IPO begins on 8 June
- Offering period expected from 8 to 18 June 2012
- Price range: 26 to 31 euros
- No dilution of existing shareholders / lock period of 6 to 12 months
- First Chinese software company on the German stock market
- Sales and EBIT more than tripled in the past three years
6 June 2012 - The offering period as part of the IPO on the Entry Standard
of the Frankfurt stock exchange begins on 8 June 2012 for Vange Software
Group AG, VSG, (WKN: A1JTW0, ticker: VWA). A total of up to 1,000,000
registered shares will be offered presumably until 18 June (16:00 MESZ)
under a public offering in Germany and Austria as well as a private
placement outside Japan and the USA. The share price will range from 26 to
31 euros. The shares were all generated from a capital increase. Existing
shareholders will not be selling any shares and have all committed to a
lock up period of 12 months for members of management and 6 months for
private equity investors.
Once the transaction has been completed, VSG's free float will amount to up
to 20 percent. The remaining shares are held by members of management as
well as well-known national and international private equity investors. The
first listing in the Entry Standard is planned for 21 June. The transaction
will be assisted by VEM Aktienbank AG as the lead manager and LFG Kronos
Investment Services GmbH as the selling agent.
Vange Software Group AG is the first-ever Chinese software company to be
listed in Germany. VSG is a high-tech company based in China with a holding
company in Switzerland. The company is a leading provider of software
solutions for the Chinese housing financing industry. These financial
institutions, which have a similar approach to German Bausparkassen
(building societies), are prescribed by law by the Chinese government to
enable all citizens to access favourable property financing. They are part
of the People's Republic of China's social welfare system. Housing
Provident Funds (HPFs) are based on compulsory premiums paid by Chinese
employees; some 700 HPFs currently exist in China. They have to process
large amounts of data and adapt to legal requirements.
HPFs currently manage the equivalent of some 120 billion euros and grow by
an average of 25 percent per year. VSG has a HPF software market share of
more than 10 percent, making it the number 2 in this growth market, just
behind the leading provider. The advantages of VSG include the strong
position of modular, technically mature and patented software as well as
innovative payment models with a high share of recurring revenues. The
modular design and the specialisation in large amounts of encrypted data
also make entry into additional markets an attractive prospect for VSG
Software.
In the past three financial years, VSG has more than tripled sales to the
equivalent of 40.9 million euros and achieved above-average growth in
earnings before interest and taxes to 19.6 million euros in 2011.
The company plans to use the funds generated by the IPO to finance
additional growth, make selected acquisitions and finance strategic
actions, such as establishing new operational, research and development
centres.
For more information on Vange Software Group AG, visit www.vsg-group.com
Contact:
Vange Software Group AG
Beiou Huang
VSG Vange Software Group AG
Seefeldstrasse 69 | CH-8008 Zurich
Phone: +41 (0) 43 4883 565
Mobile: +49 (0) 162 7522986
Email: beiou(at)vsg-group.com
Web: www.vsg-group.com
edicto GmbH
Axel Mühlhaus/ Dr. Sönke Knop
Phone: +49 (0) 69 905505-52
Vange(at)edicto.de
Eschersheimer Landstr. 42
D - 60322 Frankfurt
Disclaimer
This publication constitutes neither an offer to sell nor a solicitation to
buy securities of Vange Software Group AG. The offer is being made solely
by means of, and on the basis of, the published securities prospectus
(including any amendments thereto, if any). An investment decision
regarding the publicly offered securities of Vange Software Group AG should
only be made on the basis of the securities prospectus. The securities
prospectus is available free of charge from the Company and from VEM
Aktienbank AG as well as on the Company's website (www.vsg-group.com).
This document is not an offer of securities for sale or a solicitation of
an offer to buy securities in the United States. The shares of Vange
Software Group AG ('Shares') have not been registered under the U.S.
Securities Act of 1933, as amended ('Securities Act') and may not be
offered or sold in the United States, unless registered under the
Securities Act or according to an exemption from such registration. There
will not be any public offering of the Shares in the United States and the
Shares will not be registered under the Securities Act.
This document is only aimed at and is only distributed to (i) individuals
outside the United Kingdom, or (ii) to investment professionals falling
within Article 19(5) of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005 ('Order') or (iii) high net worth
entities, and other individuals to whom it may lawfully be communicated,
falling within Article 49(2)(a) to (d) of the Order (together referred to
as 'relevant persons'). The Shares are only available to, and any
invitation, offer or agreement to subscribe, buy or otherwise acquire such
securities will be engaged in only with, relevant persons. Any individual
who is not a relevant person should not act or rely on this document or any
of its contents.
End of Corporate News
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06.06.2012 Dissemination of a Corporate News, transmitted by DGAP - a
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