DGAP-Adhoc: Snowbird AG: Issue price fixed at upper margin of price range at 6.00 EUR - Approximately 1.6m shares placed mainly with institutional investors - Proceeds from the IPO ensure future profitable growth

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

24.09.2014 15:15

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Issue price fixed at upper margin of price range at 6.00 EUR 
Approximately 1.6m shares placed mainly with institutional investors 
Proceeds from the IPO ensure future profitable growth 

Munich, 24.09.2014 - Snowbird AG (International Securities Identification
Number: DE000A1PHEL8, German Securities Identification Number: A1PHEL,
Ticker Symbol 8S9), one of the leading companies in down processing and
manufacturing of high quality down, down clothing and down bedding, closed
its subscription period today as scheduled. Based on the orders received
the Snowbird management together with the Global Coordinator & Lead
Manager, CM-Equity AG, set the issue price for the Snowbird shares at 6.00
EUR which is at the upper limit of the price range (5.50 to 6.00 EUR).

First Trading Day
The first day of trading of Snowbird AG shares in the Prime Standard
Segment of the Frankfurt Stock Exchange is scheduled for next Monday, 29
September 2014.

Capital increase
During the subscription period 1,583,334 shares could be placed mainly with
institutional investors. Retail investors count for approximately 20
percent of the placements. The distribution between investors from Asia and
Europe is approximately 50:50. The free float after listing will be
approximately 22 percent.
After the IPO capital increase the nominal capital of Snowbird AG is
31,583,334 EUR divided into 31,583,334 shares. The derived company value
therefore is ca. 190m EUR.

Use of IPO proceeds
Supported by existing credit lines the gross proceeds from the IPO of 9.5m
EUR ensure financing the expansion of the existing production capacity as
scheduled and increase the working capital, especially inventories and
receivables.

Yan Changzai, CEO and founder of Snowbird: "During the last weeks we had
excellent meetings with many high-profile institutional investors in Asia
and Europe. Additionally we had fruitful meetings with potential European
B2B partners that help us to enter the European market. We thank all the
investors who believe in our equity story and gave us their confidence. We
will not disappoint you. With the successful Initial Public Offering we set
the next step for our expansion strategy within China and towards Europe.
The listing in Frankfurt is a milestone in Snowbird's history. Snowbird is
a mid-size and family-owned company. Together with my colleagues and my
family, I will continue our strong efforts to further develop the company
to become the global leading down processor."

The transaction was accompanied by CM-Equity AG as Global Coordinator and
Lead Manager. The Company's investor relations adviser is max. Equity
Marketing GmbH.

Service
The prospectus, approved by BaFin, as well as additional information about
the company and the IPO are provided on the new Snowbird website
www.snowbird-ag.com


Snowbird AG - one of largest down processing companies worldwide
Snowbird is one of the world's 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 in a sustainable and environmental friendly way. Snowbird
operates very profitable along the value chain from down processing to down
clothing and down bedding production. Products are sold under the brands
"Snowbird" or "Xueniao" or produced as white label based on orders from
third parties.

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.


24.09.2014 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
              c/o HRG Hansische Revisions-Gesellschaft mbH, Ferdinandstr. 25
              20095 Hamburg
              Germany
Phone:        +49 89 139 28890
Fax:          
E-mail:       ir@snowbird-ag.com
Internet:     www.snowbird-ag.com/de
ISIN:         DE000A1PHEL8
WKN:          A1PHEL
Listed:       Regulierter Markt in Frankfurt (Prime Standard)
 
Notierung vorgesehen / intended to be listed
 
End of Announcement                             DGAP News-Service
 
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