China Specialty Glass AG / Key word(s): IPO
15.11.2010 12:43
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* Listing in the 'Prime Standard'
* One of the largest producer of security glass in China
* Net profit margin of 27.8% in 2009
* IPO in order to finance expansion strategy and R&D
* Strong results in the first 9 months of 2010: revenue up 44.6%, net
profit up 66.3%
Grünwald/München, 15 November 2010 - China Specialty Glass AG ('CSG'), the
German Holding Company of one of China's largest producers of security
glass, plans an IPO by the end of the year, if the capital market
environment is favourable. CSG intends to be listed in the Prime Standard
segment at the Frankfurt Stock Exchange. The company plans to use the
expected proceeds from the IPO to finance a new production site, modernise
and expand its existing production facilities, establish a R&D centre and
finally finance its further market expansion and regular operations.
The Sole Global Coordinator and Sole Bookrunner of the transaction will be
VISCARDI AG.
Since 1994, the China-based CSG Group develops, produces and sells
speciality glass, especially security glass, under the brand of 'Hing Wah'.
With over 450 employees, it is one of the leading producers of security
glass, which protects against forced intrusion and all sorts of violent
physical impacts, in terms of output and sales in China. In the field of
bullet-proof glass CSG is the market leader in China. With its two main
product lines, security glass and construction glass, it provides glass for
banks, refitting automobile manufacturers and the construction industry.
Strong revenue growth despite world financial crisis
The total revenues of CSG grew from 2007 with EUR 37.4 million to EUR 50.9
million in 2009 - an average yearly growth rate of 17%. In the same period,
the net profit rose from EUR 9.1 million in 2007 to EUR 14.1 million in
2009 or by 55%. The net profit margin reached 27.8% in 2009.
In 2010, the business of CSG has continued its steady growth. In the first
nine months of 2010, revenues reached EUR 49.9 million, while net profit
for the period amounted to EUR 15.7 million. Compared with the previous
year, this represents a revenue increase of 44.6% and an increase in net
profit of 66.3% with a net profit margin of 31.4%.
CSG is convinced that on the background of the growing GDP and rising
wealth of the population, the growth of the Chinese market for security and
construction glass will continue. Therefore the company plans to enlarge
its output capacities and enforce its sales to meet the future demand via
expanding its sales network, new production capacities, participation in
the consolidation process of the industry, enhanced R&D activity and
finally a stronger focus on high-margin security glass products and
synergistic lower-margin construction glasses.
About China Speciality Glass AG
China Speciality Glass AG is the German holding company of China Specialty
Glass Group. The group develops, produces and sells specialty glass. The
company's major products sold under its 'Hing Wah' brand are security
glass, which includes bulletproof glass and intruder resistant glass, as
well as construction glass, which includes architecture laminated glass,
architecture tempered glass, fire resistant glass, hollow glass and
electric-controlled colour-changing glass. For security glass products in
the Chinese banking and automotive industry, the Group is one of the market
leaders both in terms of production output and market share.
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 China Specialty Glass AG and the syndicate
bank. The 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 China
Specialty Glass 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.
For further requests please contact:
Kirchhoff Consult AG
Dr. Kay Baden
T: +49 40 60 91 86 0
F: +49 40 60 91 86 60
E-Mail: baden@kirchhoff.de
or visit www.csg-ag.com
15.11.2010 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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DGAP-News: China Specialty Glass AG intends to go public at Frankfurt Stock Exchange
| Source: EQS Group AG