Euro Asia Premier Real Estate Starts Book Building
(Thomson Reuters ONE) -
Euro Asia Premier Real Estate Company Limited / Euro Asia Premier Real Estate Starts Book Building processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement.
Placement of up to 1.2 million shares offered at Euro 5 to 6
Frankfurt (Germany) / Weifang (People's Republic of China), 20 May 2010.
The Board of Directors of Euro Asia Premier Real Estate Company Limited ("Euro
Asia" or "The Company"), a Chinese real estate developer, today announced that
further to the Company's announcement on 29 March, book building for its
intended listing on the Entry Standard segment of the Deutsche Boerse, will run
from 20 to 25 May 2010.
As the Company and its lead bank, mwb fairtrade Wertpapierhandelsbank AG, today
announced at an analyst conference, one million ordinary shares are offered
through a capital increase to investors, with the possibility of a further
200,000 shares through a green shoe. Shares are priced at Euro 5.00 to 6.00. The
first day of trading is envisaged to be 26 May 2010.
At the intended price, the Company will raise up to Euro 6 million, with the
proceeds going towards project development. Following the IPO, Euro Asia will
have 11 million shares outstanding. Upon full subscription and additional
placement of the green shoe shares, the company will have a maximum free float
of 9.1%. Current shareholders have agreed to a lock-up period of 24 months.
Chairman of the Board, Mr Sun XiYi, who has developed over a million square
meters of real estate in the Weifang region, stated, "The intended listing marks
a mile stone in our development. We are in a strong financial position with very
limited debt, and with an existing portfolio of rental properties, the proceeds
of which cover our operating costs. This sound position allows us to use the
proceeds of the capital increase for project development purposes, and therefore
the building of shareholder value. In addition, the listing on Deutsche Boerse
will have a significant positive effect on our standing with our business
partners and thereby further strengthening our competitive position. The listing
will greatly benefit our efforts in becoming the dominant project developer in
Weifang."
Euro Asia is a developer of real estate projects, predominantly active in the
city of Weifang in the Shandong province of the People's Republic of China. Euro
Asia currently holds a number of properties and has a project portfolio,
acquired through its JV partner SNI, a leading local property developer. With
limited debt and existing revenues, management believes the Company is in an
excellent position to benefit from the strong growth in demand for both
commercial and residential property in the region, a development supported by
government policy. In addition to existing demand and organic growth of the
economy, an important driver for the real estate market will be the relaxation
of urbanization legislation, facilitating migration to prefecture-level cities
such as Weifang.
IPO and Share Details:
Market segment | Entry Standard (Open Market)
-------------------------------+----------------------------------------
ISIN | VGG3223A1057
-------------------------------+----------------------------------------
WKN | A0YGJM
-------------------------------+----------------------------------------
Ticker | JT9
-------------------------------+----------------------------------------
Placement shares | 1,000,000 Ordinary Shares
-------------------------------+----------------------------------------
Green shoe | 200,000 Ordinary Shares
-------------------------------+----------------------------------------
Shares outstanding | 11,000,000 (post IPO)
-------------------------------+----------------------------------------
Price range | Euro 5.00 bis 6.00
-------------------------------+----------------------------------------
Subscription period | 20 to 25 May 2010
-------------------------------+----------------------------------------
Planned first day of trading | 26 May 2010
-------------------------------+----------------------------------------
Lead Bank | mwb fairtrade Wertpapierhandelsbank AG
-------------------------------+----------------------------------------
Selling Agent | DAB bank AG, S Broker AG & Co. KG
-------------------------------+----------------------------------------
Selling Support | comdirect bank AG, CortalConsors S.A.
|
The prospectus can be viewed at the company's website: www.eu-asia.com.cn
About Euro Asia
Euro Asia is a BVI registered company, active in real estate development in the
Shandong area of the People's Republic of China. The Company operates locally
through its subsidiaries, jointly owned with SNI, a leading local development
company. Generating leasing revenues from a number of commercial properties, the
Company has a number of other projects under development. By utilizing its
strong local network to banks, political decision makers, land owners and other
developers, the Company intends to grow its leading position in the region prior
to moving into other prefecture-level cities cities.
About mwb fairtrade Wertpapierhandelsbank AG
mwb fairtrade AG is one of the leading securities trading banks in Germany. It
was created from the merger of mwb Wertpapierhandelsbank AG and Fairtrade
Finance AG. As an official broker, mwb fairtrade manages over 16,000 order books
and is admitted to all of the German stock exchanges. In addition to office in
Graefelfing near Munich, we also maintain branch offices in Frankfurt, Hamburg,
Hanover, and in Berlin. mwb fairtrade has a focus on two business activities:
securities trading and capital markets. This makes us one of the few companies
that covers all of the significant segments of the securities trading business.
Contact:
Schwarz Financial Communication
Frank Schwarz
Tel: +49 611 1745 398 11
Schwarz(at)schwarzfinancial.com
Disclaimer
This document is not an offer of securities for sale in the United States of
America. Securities may not be offered or sold in the United States of America
absent registration or an exemption from registration under the U.S. Securities
Act of 1933 (as amended). Euro Asia does not intend to register any part of the
under the U.S. Securities Act of 1933, as amended, and the Shares are not being
offered and will not be offered or sold in the United States of America.
[HUG#1417511]
--- End of Message ---
Euro Asia Premier Real Estate Company Limited
Jian Hong East Street No 316 Weifang City, Shandong China
Listed: Xetra Stars in Frankfurter Wertpapierbörse;
Unternehmensinformation / Kurzprofil:
Datum: 20.05.2010 - 13:00 Uhr
Sprache: Deutsch
News-ID 21242
Anzahl Zeichen: 0
contact information:
Town:
Weifang City, Shandong
Kategorie:
Business News
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