Firstextile AG (ISIN: DE000A1PG8V8) joined the Prime Standard of the Frankfurt Stock Exchange on 12 November. A total of 1.8 million shares were placed in the IPO. The issue price was €10.00 and the initial listing price €10,00. The issue volume was €18 million.
Macquarie Capital (Europe) Ltd. is the lead manager, while equinet Bank AG is acting as the specialist and designated sponsor.
“We are delighted that Firstextile AG has chosen an IPO in Frankfurt – in our most tightly regulated stock exchange segment. The Prime Standard stands for the highest transparency and thus for excellent positioning with regard to international investors,” said Barbara Georg, Head of Listing & Issuer Services at Deutsche Börse.
Company founder and CEO Fred Yang: “Within the last few weeks we had numerous preliminary talks with banks and institutional investors. We are proud that we were able to realize this project despite the current hostile conditions for IPOs - especially also for Chinese stock exchange candidates. Besides, this is a confirmation for the operative strength of our business model and the future growth potential we see for our company.”
According to information provided by the company, Firstextile AG is the leading manufacturer of yarn-dyed high-end and multifunctional fabrics, uniforms for companies and public institutions and high-end shirts. The company's annual production capacity is 36 million metres of fabric. The factory is situated in Jiangyin city, close to the city of Shanghai. As at 30 June 2012, Firstextile employed 735 people. The company sells its products in more than 11 provinces and 40 cities in China; and internationally to customers from the USA, the European Union and Hong Kong.
2012 has thus far seen eight IPOs in the Prime Standard and three in the Entry Standard.
