Powerland AG / Key word(s): IPO
31.03.2011 08:27
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Price range for shares of Powerland AG between EUR 14.25 and EUR 17.25
- Offer period starts on 31 March 2011 and is expected to end on 7 April
2011
- The offer comprises up to 6,325,000 shares
Frankfurt/Main, 31 March 2011 - The price range for the up to 6,325,000
Powerland AG shares (ISIN DE000PLD5558, WKN PLD555, Ticker Symbol 1PL)
offered in the company's planned IPO was fixed at EUR 14.25 to EUR 17.25
per share. All shares are vested with full dividend rights for the short
financial year 2011.
Up to 5,000,000 of the offered no par value ordinary bearer shares
originate from a capital increase of Powerland AG (the 'Company'). Up to
500,000 of the offered no par value ordinary bearer shares originate from
the holdings of Guo GmbH & Co. KG (the 'Selling Shareholder'). In addition,
up to 825,000 no par value ordinary shares originate from the holdings of
the Selling Shareholder in connection with a potential over-allotment
(Greenshoe). Guo GmbH & Co. KG is the investment vehicle of the major
shareholder and founder Mr. Shunyuan Guo who entered into an 18 months
lock-up agreement on his remaining shares.
If all offered shares are placed and if the greenshoe option is fully
exercised, the percentage of shares in free float will amount to
approximately 42.2 percent. The offer period is expected to run for six
business days, starting on 31 March and expected to end on 7 April. On the
last day of the offer period, purchase offers by private investors can be
made until 12:00 a.m. (CEST) and by institutional investors until 6:00 p.m.
(CEST).
At the end of the offer period, the Company, the Selling Shareholder and
the underwriters expect to determine the offer price on 8 April 2011 based
on the order book established during the book building process. The Company
expects to obtain gross proceeds of between approximately EUR 71.3 million
and EUR 86.3 million based on the set price range.
Macquarie Capital (Europe) Limited is acting as Global Coordinator and Sole
Bookrunner. Further syndicate bank is Berenberg Bank as Joint-Lead Manager
and comdirect bank AG, Cortal Consors, ING DiBa, S Broker and DAB bank AG
are involved as selling agents.
About Powerland
Powerland (ISIN DE000PLD5558, WKN PLD555, Ticker Symbol 1PL) is a leading
Chinese producer of fashionable luggage and bags with a main focus on
high-quality luxury women's handbags made of genuine leather. Powerland
operates two business segments - a luxury segment under the Powerland brand
and a casual segment under the Sotto brand. Powerland's operating
subsidiaries are located in Fujian province and Guangdong province in
China. In 2010, Powerland realised group sales of EUR 112.6 million, an
operating profit (EBIT) of EUR 27.0 million and a net profit of EUR 22.6
million. At present, Powerland employs approximately 1,075 employees.
Additional information may be found under www.powerland.ag
Contact
HFN Kommunikation GmbH
Daniela Münster
PR for Powerland
Phone +49 6196 77 641 20
E-Mail: dmuenster@hfn.de
PvF Investor Relations
Jörg Peters
IR for Powerland
Phone +49 172 67 49 792
E-Mail: ir@powerland.ag
Macquarie Capital (Europe) Limited
Carsten Klante
Phone +49 69 7474 9785
Jonny Franklin-Adams
Phone +44 20 3037 5231
Disclaimer
The offer is being made solely by means of, and on the basis of, the
published securities prospectus and the supplement thereto. An investment
decision regarding the securities of Powerland AG should only be made on
the basis of the securities prospectus and the supplement. The securities
prospectus and the supplement are available free of charge from the Company
(fax number +49 69 710 456 450) and Macquarie Capital (Europe) Limited (fax
number +49 69 509 578 444) or on the Company's website (www.powerland.ag).
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
Powerland 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.
31.03.2011 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: Powerland AG
Westhafentower
60327 Frankfurt am Main
Deutschland
Phone: +49 172 - 67 49 792
Fax: +49 6196 - 777 99 66
E-mail: info@powerland.ag
Internet: www.powerland.ag
ISIN: DE000PLD5558
WKN: PLD555
Listed: Regulierter Markt in Frankfurt (Prime Standard)
Notierung vorgesehen / intended to be listed
End of Announcement DGAP News-Service
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DGAP-Adhoc: Powerland AG: Price range for shares to the IPO between EUR 14.25 and EUR 17.25
| Source: EQS Group AG