Chinese IPO in Frankfurt: China Specialty Glass
Seventh Chinese IPO in the Prime Standard of the Frankfurt Stock Exchange generates €27 million
China Specialty Glass AG (ISIN: DE000A1EL8Y8) joined the Prime Standard of the Frankfurt Stock Exchange on 1 July. The IPO comprised 3,000,000 shares (including a greenshoe of 350,000 shares). The issue price was €9.00 and the initial listing price €9.00.
Trading floor of the Frankfurt Stock Exchange (Photo: Business Wire)
Sole Global Coordinator, Joint Bookrunner and Joint Lead Manager is VISCARDI AG. Tradegate AG Wertpapierhandelsbank functions as specialist.
“We are delighted that China Specialty Glass has opted for an IPO in Frankfurt,” said Alexander Höptner, Head of Markets Services at Deutsche Börse. “Chinese companies which list in the Prime Standard have chosen the highest transparency standards in Europe. Moreover, all Chinese companies listed in this segment have chosen for its holding company the legal form of a German corporation with its strict corporate governance regulations, including the controlling body of the supervisory board.”
China Specialty Glass AG is the German holding company of China Specialty Glass Group. The Group develops, produces and markets specialty glass. “We are very pleased that we have made the move onto the Frankfurt Stock Exchange", said CEO Nang Heung Sze. “Direct access to the European capital market is a key strategic milestone for the future growth of China Specialty Glass."
To date 31 Chinese companies are listed in Frankfurt, seven of them in the Prime Standard, one in the General Standard, seven in the Entry Standard and 16 in the Open Market (First Quotation Board).
New entrants to the Frankfurt Stock Exchange in 2011 per segment: Prime Standard 10, General Standard 5, Entry Standard 10, Open Market 111.
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Andreas von Brevern Tel.: +49-(0) 69-2 11-1 15 00