DGAP-News: KINGHERO AG places capital increase to promote growth
(firmenpresse) - DGAP-News: KINGHERO AG / Key word(s): Capital Increase
KINGHERO AG places capital increase to promote growth
24.05.2011 / 17:16
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Munich, 24 May 2011. KINGHERO AG, the German holding company of a
fast-growing Chinese fashion company, has placed 650,000 shares within the
scope of the rights issue capital increase and a private placement with new
investors, existing shareholders and the management. The placement price
was EUR 23.00. After the entry in the Commercial Register, the share
capital amounts to EUR 6,775,000.00. The new shares carry dividend rights
as of 1 January 2010.
The proceeds of the capital increase amounting to approx. EUR 15 million
are to be used to establish further flagship stores. Through this step, the
company anticipates not only high-margin revenue increases, but also an
improvement of the brand management in the closely monitored flagship
stores as well as a positive image transfer through immediate vicinity to
leading international fashion brands in the context of store openings with
the leading luxury mall operator PCD Stores.
'We are pleased with the confidence of the investors in this difficult
market environment. With the proceeds of the capital increase, we can
finance our intended investments and our dynamic growth up to 2013. And
this is possible with strong liquidity and no bank debt', states Zhang Yu,
CEO and founder of KINGHERO. 'The opening of the new flagship stores will
be proactively communicated to the capital market.'
BankM - Repräsentanz der biw Bank für Investments und Wertpapiere AG was
comissioned as Sole Bookrunner and BankM together with Silvia Quandt&Cie.
AG, contractually tied agent of biw Bank für Investments und Wertpapiere
AG, acted as Joint Lead Managers for the capital increase.
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 more than 1,000 employees produce
attire for all seasons under the KINGHERO brand. The product portfolio
includes suits, jackets, shirts, pants and sweaters for men and women and
is divided into a business casual range and a general casual range.
For further information please contact:
Kirchhoff Consult AG
Dr. Kay Baden
Phone: +49 (0)40 60 91 86 0
baden(at)kirchhoff.de
KINGHERO AG
Montenstr. 11
80639 Munich
Germany
Phone: +49 (0)89 12 71 13 29
xiaoping.zhao-moll(at)kinghero.de
Disclaimer
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.
End of Corporate News
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24.05.2011 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,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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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, Stuttgart; Open Market
(Entry Standard) in Frankfurt
End of News DGAP News-Service
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126021 24.05.2011
Datum: 24.05.2011 - 17:16 Uhr
Sprache: Deutsch
News-ID 34191
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
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