DGAP-News: Powerland AG: Placement price EUR 15.00 and allotment
(firmenpresse) - DGAP-News: Powerland AG / Key word(s): IPO
Powerland AG: Placement price EUR 15.00 and allotment
08.04.2011 / 17:12
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Placement price for Powerland AG shares set at EUR 15.00 per share
- The placement comprises 6,325,000 Powerland shares including
over-allotment (Greenshoe) with a total issue volume of approximately
EUR 95 million
- The placement was substantially oversubscribed following strong
investor interest from a broad range of institutional investors across
Germany, the UK, Switzerland and other European countries.
Frankfurt/Main, 8 April 2011 - All 6,325,000 offered shares of Powerland AG
(ISIN: DE000PLD5558, WKN PLD555, Ticker Symbol 1PL) were placed at a price
of EUR 15.00 per new share with institutional and retail investors. The
total IPO issue volume amounts to EUR 94.9 million, including circa EUR
12.4 million from the over-allotment. The company will be receiving gross
proceeds of EUR 75.0 million from the placement. The free float will amount
to approximately 42 per cent if the Greenshoe option will be exercised in
full.
The offering was substantially oversubscribed at this price as a result of
strong and broad interest from high-quality institutional investors despite
the recent period of capital market volatility. Thus, the IPO was
successfully concluded.
A total of 6,325,000 shares were placed, of which 5,000,000 originate from
a capital increase against cash contributions to finance the future
business expansion, 500,000 from the holdings of Guo GmbH&Co. KG (the
'Selling Shareholder'), and 825,000 shares placed by way of the
over-allotment ('Greenshoe') originate also from the holdings of the
Selling Shareholder. Guo GmbH&Co. KG is the investment vehicle of
Powerland's major shareholder and founder Mr. Shunyuan Guo, which has
entered into an 18 months lock-up agreement on its shares remaining post
IPO.
98.6 per cent of the total number of 6,325,000 placed shares were allotted
to institutional investors in Germany (24 per cent), the UK (41 per cent),
Switzerland (16 per cent) as well as other European countries. Retail
investors in Germany were allotted 1.4 per cent of the total number of
6,325,000 shares placed. The offering was substantially over-subscribed. As
a result of the over-subscription of the offering, the retail subscription
orders received could not be fully considered and were allocated 40 per
cent of their original demand. The allotment within the scope of the
offering to retail investors was carried out in line with the Principles
for Allotment of Share Issues to Private Investors issued on 7 June 2000 by
the Stock Exchange Commission of the German Federal Ministry of Finance.
The allotment was in accordance with uniform criteria (standardized
allotment) for all retail investors in Germany.
There was no preferential allotment to members of the executive bodies of
Powerland AG or their relatives or to employees or business partners of
Powerland AG.
Book-entry delivery of the shares against payment of the offer price is
expected to take place on 12 April 2011.
Contact:
HFN Kommunikation GmbH
Daniela Münster
PR for Powerland
Phone +49 6196 77 641 20
E-Mail: dmuenster(at)hfn.de
Macquarie Capital (Europe) Limited
Carsten Klante
Phone +49 69 7474 9785
Jonny Franklin-Adams
Phone +44 20 3037 5231
About Powerland
Powerland (ISIN DE000PLD5558, WKN PLD555, Ticker Symbol 1PL) is a leading
Chinese producer of fashionable luggage and bags with a main focus on
high-quality luxury women's handbags made of genuine leather. Powerland
operates two business segments - a luxury segment under the Powerland brand
and a casual segment under the Sotto brand. Powerland's operating
subsidiaries are located in Fujian province and Guangdong province in
China. In 2010, Powerland realised group sales of EUR 112.6 million, an
operating profit (EBIT) of EUR 27.0 million and a net profit of EUR 22.6
million. At present, Powerland employs approximately 1,075 employees.
Additional information may be found under www.powerland.ag
Disclaimer
This publication constitutes neither an offer to sell nor a solicitation to
buy securities of Powerland AG. The shares have already been sold.
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
Powerland 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.
End of Corporate News
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08.04.2011 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
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Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Powerland AG
Westhafentower
60327 Frankfurt am Main
Deutschland
Phone: +49 172 - 67 49 792
Fax: +49 6196 - 777 99 66
E-mail: info(at)powerland.ag
Internet: www.powerland.ag
ISIN: DE000PLD5558
WKN: PLD555
Listed: Regulierter Markt in Frankfurt (Prime Standard)
Notierung vorgesehen / intended to be listed
End of News DGAP News-Service
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119202 08.04.2011
Datum: 08.04.2011 - 17:12 Uhr
Sprache: Deutsch
News-ID 33744
Anzahl Zeichen: 0
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Kategorie:
Business News
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