DGAP-News: KINGHERO AG plans uplisting to Prime Standard
(firmenpresse) - DGAP-News: KINGHERO AG / Key word(s): Miscellaneous
KINGHERO AG plans uplisting to Prime Standard
27.06.2011 / 12:03
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- 'Uplisting' to the EU-regulated Prime Standard to take place within 12
months
- Two additional flagship stores now opened
Munich, 27 June 2011. KINGHERO AG, the German holding company of a
fast-growing Chinese fashion company, continuously pursues its growth
strategy with the opening of two additional flagship stores and plans to
uplist to Prime Standard within the next 12 months.
In June 2011, KINGHERO opened two additional flagship stores in the
province of Fuijan, China. The new stores are located in the city of
Xiamen. By now, the company already runs 19 own flagship stores, 12 of
which were opened during the current financial year. Using the cashflow
from operations as well as the proceeds from the recent capital increase,
the company plans to further accelerate the expansion of the flagship
stores and establish more than 40 stores during the second half of the
year.
KINGHERO's shares are currently listed in the Entry Standard, a sub-segment
of the Open Market of the Frankfurt Stock Exchange. Within the next 12
months, the company plans to uplist to the Prime Standard, which is the
segment of Deutsche Börse with the strictest transparency and disclosure
requirements. Already today, KINGHERO publishes quarterly figures as well
as all company information in both German and English.
Since the recent capital increase, KINGHERO's shareprice has suffered due
to uncertainties in international stock markets concerning Chinese issuers.
These incertainties were mainly caused by a lack of transparency and rumors
about partly inaccurate reporting of certain companies.
'With the decision to go public at Deutsche Börse, KINGHERO purposely
decided to offer its investors a high level of transparency and publicity',
underlines CEO Zhang Yu. 'As a major shareholder, I am particularly
affected by the current share price development. It is clearly incongruent
to our operational development, which - since the capital increase - has
been even better than previously expected. I'm looking forward to further
explain KINGHERO's excellent development in detail during our annual
general meeting on June 6, 2011', adds CEO Zhang.
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
Verena Rauch
Phone: +49 (0)40 60 91 86 34
verena.rauch(at)kirchhoff.de
KINGHERO AG
Gustav-Heinemann-Ring 44
81739 Munich
Germany
Phone: +49 89 6734 6884
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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27.06.2011 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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129767 27.06.2011
Datum: 27.06.2011 - 12:03 Uhr
Sprache: Deutsch
News-ID 34466
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
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