DGAP-News: KINGHERO AG starts with a price of EUR 15.00
(firmenpresse) - KINGHERO AG / IPO
06.08.2010 10:20
Dissemination of a Corporate News, transmitted by
DGAP - a company of EquityStory AG.
The issuer / publisher is solely responsible for the content of this announcement.
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- First price equals offering price of EUR 15.00
- Offering volume amounting to EUR 15 million
- IPO gives access to new financing opportunities
Munich/Frankfurt, 06. August 2010. The shares of KINGHERO AG started
trading successfully at a price of 15.00 EUR in the Entry Standard of
Deutsche Börse in Frankfurt, Germany. The first price was equal to the
offering price of 15.00 EUR. The company, a German Holding Company of a
strongly growing Chinese apparel manufacturer and designer, successfully
completed a capital increase in connection with the IPO by placing
1,000,000 shares including an over-allotment option. The issue price for
the new shares was set at EUR 15.00 in the bottom part of the price range
of EUR 14.50 to 18.50. The offering volume amounts to EUR 15 million. Since
start of trading the company's shares are continuously traded on the
electronic trading system XETRA of Deutsche Börse AG.
Aim of the IPO is the financing of future company growth and investments
for a strong fashion brand KINGHERO. ZHANG Yu, founder, CEO and major
shareholder, said: 'We are delighted that so many investors have found our
story convincing. As a fast growing company, the successful IPO on the
Frankfurt Stock Exchange gives us access to various financing options in
the future. We will proceed our growth strategy by using the issue amount
in the interest of our shareholders.'
Based on the first share price the market capitalisation of KINGHERO
amounts to approximately EUR 91,9 million. After the capital increase and
the successful IPO the freefloat amounts to around 23%. The joint lead
managers for the IPO were BankM - Repräsentanz der biw Bank für Investments
und Wertpapiere AG and Silvia Quandt&Cie. AG.
About 30% of the shares were placed with private investors, while about 70%
of the shares were placed with institutional investors in Germany and other
countries. The shares were allocated to private investors on the basis of
consistent criteria, with each investor being allocated 90% of his order.
About KINGHERO AG
KINGHERO AG is the German Holding Company of the KINGHERO Group of
companies, mainly active in the Peoples Republic of China (PRC). The Group
is a strongly growing apparel manufacturer and designer, featuring a
leading Chinese fashion brand for the strongly growing urban middle class
in China. The key to the Company's success is a high fashion degree with a
European 'touch and feel' as well as an upscale quality. The high speed of
the design and marketing of new collections ensures a fit to the changing
demands of the growing urban middle class in China. Being in this business
for more than 25 years, the group and its 896 employees produce attire for
all seasons under the KINGHERO brand. The product portfolio includes suits,
jackets, shirts, pants, sweaters for men and women and is divided into a
business casual range and a general casual range.
In 2009, the operating companies in the KINGHERO Group generated total
sales of EUR 48.9 million, EBIT of EUR 13.3 million and net profit of EUR
10.7 million. This represents increases over 2008 of 52.3% (sales), 59.4%
(EBIT) and 54.5% (net profit). KINGHERO holds a substantial lead over the
industry average with an EBIT margin of 27%. The company expects Group
sales to increase again significantly in 2010. In the first quarter of
2010, sales rose to EUR 14.9 million. This corresponds to an increase of
42.9% over the sales of EUR 10.4 million in the same quarter the previous
year. The EBIT margin amounted to more than 31%.
Disclaimer
This publication is not an offer of any securities for sale or a
solicitation of an offer to purchase any securities. The prospectus was
approved by the German Financial Service Supervisory Authority
(Bundesanstalt für Finanzdienstleistungsaufsicht) on 22 July 2010 and
published. It is available free of charge from KINGHERO AG
(www.kinghero.de) and the syndicate banks. Any shares will be offered
exclusively on the basis of the prospectus approved by the German Financial
Service Supervisory Authority.
This document is not an offer of securities for sale or a solicitation of
an offer to purchase securities in the United States. The shares of
KINGHERO AG (the 'Shares') have not been registered under the U.S.
Securities Act of 1933, as amended (the 'Securities Act') and may not be
offered or sold in the United States unless registered under the Securities
Act or pursuant to an exemption from such registration. There will be no
public offering of the Shares in the United States and the Shares will not
be registered under the Securities Act.
This document is only being distributed to and is only directed at (i)
persons who are 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 (the 'Order') or (iii)
high net worth entities, and other persons to whom it may lawfully be
communicated, falling within Article 49(2)(a) to (d) of the Order (all such
persons together being referred to as 'relevant persons'). The Shares are
only available to, and any invitation, offer or agreement to subscribe,
purchase or otherwise acquire such securities will be engaged in only with,
relevant persons. Any person who is not a relevant person should not act or
rely on this document or any of its contents.
Kirchhoff Consult AG
Janina Wismar
Phone: +49 (0)40 60 91 86 0
janina.wismar(at)kirchhoff.de
KINGHERO AG
Xiaoping Zhao-Moll
Montenstr. 11
80639 Munich
Germany
Phone: +49 (0)89 12 71 13 29
xiaoping.zhao-moll(at)kinghero.de
06.08.2010 10:20 Ad hoc announcement, Financial News and Press Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Language: English
Company: KINGHERO AG
Montenstr. 11
80639 München
Deutschland
Phone: 089 - 127 11 329
Fax: 089 - 127 11 313
E-mail: contact(at)kinghero.de
Internet: www.kinghero.de
ISIN: DE000A0XFMW8
WKN: A0XFMW
Listed: Freiverkehr in Düsseldorf, Hamburg; Open Market (Entry
Standard) in Frankfurt
End of News DGAP News-Service
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Datum: 06.08.2010 - 10:20 Uhr
Sprache: Deutsch
News-ID 31907
Anzahl Zeichen: 0
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Kategorie:
Business News
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