DGAP-News: United Power Technology AG revives IPO plans in the Prime Standard on the Frankfurt Stock Exchange
(firmenpresse) - DGAP-News: United Power Technology AG / Key word(s): IPO
United Power Technology AG revives IPO plans in the Prime Standard on
the Frankfurt Stock Exchange
17.05.2011 / 10:30
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- IPO pursued in June 2011
- One of the leading manufacturers of engine-driven power equipment in
China
- Supplier of leading European retailers
- Highly profitable growth continued in Q1 2011
Eschborn, Germany, May 17, 2011 - United Power Technology Group, one of the
leading manufacturers of engine-driven power equipment in China, intends to
go public in June 2011 and aims to obtain a listing in the Prime Standard
on the Frankfurt Stock Exchange. The company with its operating business
located in China designs, develops, manufactures and sells an extensive
range of engine-driven power equipment, including generators, outdoor power
equipment and components such as engines. United Power has a diversified
global blue chip customer base which is being serviced through multiple
sales channels. The company plans to use the net proceeds of the IPO to
finance the further production capacity expansion as well as the expansion
of its sales network and marketing activities.
'Europe is our most important export market and is expected to remain so
for the foreseeable future. In 2010 we entered into a co-operation with
major European retailers such as Kingfisher, OBI and Carrefour. A listing
in Germany enhances our visibility in Europe,' explains John Huang, Co-CEO
of United Power Technology Group.
Highly profitable growth continued in Q1 2011
In 2010 the Group's revenue increased by 59% to 84.6 million EUR (53.1
million EUR in 2009). Operating income (EBIT) for the full year 2010
increased from 10.2 million EUR in 2009 to 16.1 million EUR in 2010. This
represents an EBIT margin of 19.1% in 2010 (2009: 19.3%).
Also in the first three months of 2011 United Power has continued its
highly profitable growth: The Group's revenue amounts to 21.1 million EUR,
an increase by 37% compared to Q1 2010 (15.4 million EUR). EBIT increased
from 3.3 million EUR in Q1 2010 to 3.6 million EUR in Q1 2011. Adjusted for
one-off IPO related cost, EBIT grew by 24.6% to 4.2 million EUR in Q1 2010.
During the last year, United Power successfully executed its international
growth strategy and reached several milestones: A new factory building has
been completed and the company is now in the process of installing new
production lines for the expansion of its production capacity. For 2011 the
company expects to increase its annual production capacity to around
1,000,000 units and to further diversify its product mix towards power
equipment with larger engines. United Power is optimally positioned for
further dynamic growth both globally as well in its domestic home market.
Listing in the Prime Standard on the Frankfurt Stock Exchange
The company is planning a public offer in Germany and Luxembourg as well as
private placements to institutional investors outside Germany, Luxembourg
and the United States. Kepler Capital Markets is acting as Global
Co-ordinator, Lead Manager and Bookrunner for the IPO. United Power
Technology AG first considered a listing of its shares at the beginning of
November 2010 but had decided to postpone the IPO due to an unfavourable
IPO environment.
United Power plans to use the net proceeds that it will receive from the
sale of the new shares to finance the further production capacity
expansion. It plans to install new production lines for both existing as
well as new products and to upgrade and improve the production lines for
its existing products. Further, the company plans to use the proceeds for
financing R&D activities of new technologies and products as well as the
expansion of its sales network and marketing activities.
About United Power Technology Group
United Power Technology Group designs, develops, manufactures and sells an
extensive range of engine-driven power equipment, including generators,
outdoor power equipment and components such as engines. Its major products
comprise residential as well as commercial generators which are currently
delivered to more than 45 countries in the world. The operational companies
of United Power Technology Group are incorporated under the laws of the
People's Republic of China and located in Fuzhou and Shanghai, China.
For further information please contact:
Kirchhoff Consult AG
Dr Kay Baden
phone: +49 40 60 91 86 39
fax: +49 40 60 91 86 60
baden(at)kirchhoff.de
or visit the company's website: http://www.unitedpower.de.com/
Disclaimer
This publication is not an offer of any securities for sale or a
solicitation of an offer to purchase any securities. Subject to approval by
the German Financial Service Supervisory Authority (Bundesanstalt für
Finanzdienstleistungsaufsicht), a prospectus will be published, which will
be available free of charge from United Power Technology AG
(www.unitedpower.de.com) and the syndicate banks. Any shares will be
offered exclusively on the basis of the prospectus required to be 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 United
Power Technology 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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17.05.2011 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
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Language: English
Company: United Power Technology AG
Mergenthalerallee 10-12
65760 Eschborn
Deutschland
Phone: +49 6196 400804
Fax: +49 6196 400910
E-mail: it(at)unitedpower.de.comInternet: www.unitedpower.de.com
ISIN: DE000A1EMAK2
WKN: A1EMAK
Listed: Regulierter Markt in Frankfurt (Prime Standard)
Notierung vorgesehen / intended to be listed
End of News DGAP News-Service
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124959 17.05.2011
Datum: 17.05.2011 - 10:30 Uhr
Sprache: Deutsch
News-ID 34118
Anzahl Zeichen: 0
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Kategorie:
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