United Power Technology AG (ISIN: DE000A1EMAK2) joined the Prime Standard of the regulated market on the Frankfurt Stock Exchange on 10 June. A total of 2,300,000 new no-par value registered ordinary shares were offered in the IPO. The issue price was €9.00 and the initial listing price €9.10.
Kepler Capital Markets S.A. is lead manager and designated sponsor. biw Bank für Investments und Wertpapiere AG and Erste Group Bank AG are co-lead managers. Renell Wertpapierhandelsbank AG is acting as the specialist.
“We are delighted that another company from China, United Power, has chosen Frankfurt for its IPO,” said Alexander Höptner, Head of Markets Services at Deutsche Börse. “Deutsche Börse enjoys a very good reputation in China as a result of its efficient listing process; in addition the listing venue offers the ideal conditions for Chinese SMEs due to shares being listed in euro and trading in a highly liquid market. Moreover, experienced investors and analysts from peer groups ensure a fair valuation.”
“We are really pleased that our IPO has succeeded. Europe is one of our most important export markets, and a listing in Germany increases our visibility,” said John Huang, Co-CEO of United Power Technology Group. “United Power is optimally positioned for further dynamic growth both globally and on the domestic market. We will primarily invest the funds generated by the IPO in extending our production capacity.”
United Power Technology Group designs, develops, manufactures and sells engines as its core business and offers an extensive range of engine-driven power equipment including generators, outdoor power equipment and components. Its major products comprise residential as well as commercial generators, which are currently delivered to more than 45 countries in the world.
New entrants to the Frankfurt Stock Exchange in 2011 per segment: Prime Standard 8, General Standard 3, Entry Standard 8, Open Market 105.
To date 30 Chinese companies are listed on the Frankfurt Stock Exchange: Prime Standard 6, General Standard 1, Entry Standard 7, Open Market (FQB) 16.