DGAP-Adhoc: Snowbird AG: IPO price range for new shares between 5.50 EUR and 6.00 EUR - Subscription period for up to 10 million new shares starts on 9 September 2014

Snowbird AG  / Key word(s): IPO/Capital Increase

05.09.2014 14:42

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
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The issuer is solely responsible for the content of this announcement.

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IPO price range for new shares between 5.50 EUR and 6.00 EUR
Subscription period for up to 10 million new shares starts on 9 September
2014

Munich, 05.09.2014 - Snowbird AG, one of the leading companies in the down
processing and manufacturing of high quality down, down clothing, down
bedding, down duvets and down pillows, and the existing shareholders have
jointly set with the Global Coordinator & Lead Manager,
CM-Equity AG, the price range for the IPO at 5.50 EUR to 6.00 EUR. It is
intended to disclose the final offer price on 24 September 2014.

Trading start and offering period
The first day of trading of Snowbird AG shares (International Securities
Identification Number: DE000A1PHEL8, German Securities Identification
Number: A1PHEL, Ticker Symbol 8S9) on the Prime Standard of the Frankfurt
Stock Exchange is scheduled for 29 September 2014.

The offering period starts 9 September 2014 and is scheduled to end 24
September 2014, 10.00am. During this period investors can submit purchase
offers for shares in Snowbird AG to the syndicate banks as well as direct
banks.

Capital increase
Snowbird AG currently has a nominal capital of 30,000,000 EUR divided into
30,000,000 shares. The IPO offer comprises up to 10,000,000 no par value
ordinary bearer shares of which all these shares originate from a capital
increase. Up to 1,500,000 additional shares will be made available for
potential over-allotments (greenshoe option). Assuming placement of all
offered shares (including the greenshoe) the free float will be
approximately 28 percent, without greenshoe 25 percent.

Long-term Lock-ups
There is no cashing out, none of the existing shareholders will sell shares
during the IPO. The shares from the major shareholders are subject to a
lock-up period of 36 months.

Use of IPO proceeds
Snowbird wants to become the largest down processing company worldwide.
With the proceeds from the IPO Snowbird will finance the expansion of the
existing production capacity. The company already started building a new
sewing plant that is expected to start operations in Q4/2014. When ramped
up the production capacity jumps from 1.9 million today to 8.2 million
pieces per year.

This enables Snowbird to take advantage of the increasing output from the
new down processing facility that started operations in Q4/2013 and which
is in the ramp up phase, currently having a utilization of ca. 30%. With a
production capacity of up to 4,131 tons of high quality down per year it is
one of the world's largest down processing sites.

Most of the IPO proceeds will go to the working capital, especially
inventories and receivables. Due to the seasonality in the down price the
monies from the IPO offers Snowbird the opportunity to buy the raw material
in the low price season and store it until needed. This will have positive
effects on future margins. Additionally increasing revenues will lead to
increasing receivables, which have to be financed by simultaneously
improving the cash conversion cycle.

Corporate Website
The prospectus, approved by BaFin, as well as additional information about
the company and the IPO are provided on the new Snowbird website that went
online today: www.snowbird-ag.com
There you will also find a three minutes video that gives you a first
impression on Snowbird and its state of the art down production facility.

Snowbird AG - one of largest down processing companies worldwide
Snowbird is one of the world leading down processors and known for high
quality down-filled textiles and for down bedding, down duvets and down
pillows. With its new state of the art production facility, located in
China, Henan Province, the company is able to process down at highest
quality standards. Snowbird operates very profitable along the value chain
from down processing to down clothing and down bedding production.
www.snowbird-ag.com

Investor Relations Contact
Please direct all your requests to:
max. Equity Marketing GmbH
Maximilian Fischer
Marienplatz 2
80331 Munich, Germany
Tel: +49 89 139 28890
E-Mail: ir@snowbird-ag.com

IMPORTANT NOTE - Disclaimer
This publication constitutes neither an offer to sell nor an invitation to
buy securities. The shares in Snowbird AG (the "Shares") may not be offered
or sold in the United States or to or for the account or benefit of "U.S.
persons" (as such term is defined in Regulation S under the U.S. Securities
Act of 1933, as amended (the "Securities Act")). Furthermore, the shares
may not be offered or sold in Japan or to or for the account or benefit of
Japanese citizens. No offer or sale of transferable securities is being
made to the public outside Germany and Luxembourg. The offer in Germany and
Luxembourg will be made exclusively by means of and on the basis of a
prospectus published on the company's website www.snowbird-ag.com and
available free of charge at CM-Equity AG, Munich.


05.09.2014 The DGAP 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:      Snowbird AG
              Ferdinandstraße 25
              20095 Hamburg
              Germany
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         DE000A1PHEL8
WKN:          A1PHEL
 
End of Announcement                             DGAP News-Service
 
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