The Frankfurt Stock Exchange saw the first-time listing of a Chinese company on Friday, with Gongyou Machines Limited (SG9999002927). Gongyou’s shares have been included in exchange trading on the Open Market within the framework of a private placement of €4.5 million. Support during the issue came from lead manager TradeCross AG, a subsidiary of VEM Aktienbank AG, and lead broker RG Securities AG.
According to information provided by Gongyou, the company’s business activities focus largely on the production of wood-processing machinery and electric motors. The engineering company was formed in 2004, has its registered office in Singapore, and factories in Weihai City in the province of Shandong in the east of the People’s Republic of China.
“We are proud to welcome Gongyou Machines as the Frankfurt Stock Exchange’s first Listing from China. Because of favorable capital costs and high liquidity, Frankfurt provides international companies with excellent access to the European capital market. We hope that this positive signal will soon inspire even more Chinese companies to go public in Frankfurt,” said Rainer Riess, responsible for Stock Market Business Development at Deutsche Börse.
Deutsche Börse remains extremely committed to attracting Listings from Chinese companies on the Frankfurt Stock Exchange. For example, it is organizing capital market events and listing seminars in China in collaboration with its listing partners, and is expanding its listing partner network to include Chinese intermediaries and capital market participants. Numerous presentations by Chinese companies seeking capital are once again planned as part of the German Equity Forum from 12 to 14 November 2007 in Frankfurt/Main.
