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Shares of the Chinese Feike AG (ISIN: DE000A1YCNB3) have been tradable in the General Standard of the Frankfurt Stock Exchange since 31 July. A total of 10,000,000 shares were listed; the initial listing price was €7,50.
ACON Aktienbank AG is supporting the issue. Scheich & Partner Börsenmakler GmbH is the specialist.
“With Feike AG, we welcome the third Chinese company this year to the Frankfurt Stock Exchange,” said Michael Krogmann, Managing Director at the Frankfurt Stock Exchange. “A listing in the General Standard opens companies up to the international capital market.”
“With the IPO we have achieved an important strategic milestone. The stock exchange location Frankfurt has an excellent reputation in China and we expect a further boost of our image by this listing. This helps us to expand our competitive position and our brand awareness in the booming Chinese market for children’s footwear as well as to realize future growth plans”, said Andy Hock Sim Liew, CFO of Feike AG.
According to information from the company, Feike AG is one of the largest manufacturers of children's footwear in China. The group sells its product range of children's shoes and clothing under the three brands “Feike”, “Atongmu” and “Lanmao” in different price segments. The sales network currently includes almost 2,300 retail stores in 27 provinces of China. In 2013, Feike group employed around 1,100 people at its production sites in Fujian Province and achieved revenues of EUR 108.2 million.
