Deutsche Börse: IPO for Chinese company FAST Casualwear AG
July 09 2012 - 10:22AM
Business Wire
FAST Casualwear AG (ISIN: DE000A1PHFG5) joined the Prime
Standard of the Frankfurt Stock Exchange on 9 July. A total of
1,065,020 shares were placed at the IPO (1,000,000 of which were
from a capital increase). The issue price was €5.00 and the initial
listing price €5.00. The issue volume was €5.3 million.
Kepler Capital Markets S.A. is lead manager and Renell
Wertpapierhandelsbank AG is acting as specialist.
“We welcome FAST Casualwear AG as the fourth IPO in the Prime
Standard this year”, said Barbara Georg, Head of Listing &
Issuer Services at Deutsche B�rse. “The Prime Standard puts the
company in the most transparent segment in the regulated market of
the Frankfurt Stock Exchange, thus positioning it extremely well
for international investors. The Xetra trading platform now gives
about 4,500 traders from 19 countries access to FAST Casualwear's
shares.”
“We are very pleased about our successful initial listing on the
Frankfurt Stock Exchange. For us, as a fast growing producer of
fashion shoes and apparel, the access to growth capital is a major
success factor,” said Chong Wing Chi, CEO of FAST Casualwear. “We
are convinced that a listing in Germany will have positive effects
on our company reputation as well as our brand building in China.
Moreover, we believe that the IPO will further strengthen our
competitive position.”
The FAST Group describes itself as a Chinese company
specialising in producing shoes and fashionwear in that country.
The company's main activities are the design, production and sale
of casual shoes and clothing. The FAST Group owns production
facilities with 14 assembly lines located in the industrial park in
Fujian Jinjiang Huzhong. It has an annual production capacity of 18
million pairs of shoes. Group revenue totalled €82 million in
2011.
To date 13 Chinese companies are listed on the regulated market
of the Frankfurt Stock Exchange, of which 12 are in the Prime
Standard and 1 in the General Standard. 8 Chinese companies are
listed in the Entry Standard.
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