Greater China Precision Components Ltd. / IPO
16.11.2007
Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
The issuer / publisher is solely responsible for the content of this announcement.
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Munich, Huizhou - 16.11.2007 - The Chinese manufacturer of mobile phone
housing components Greater China Precision Components Ltd. (in short: GCPC,
Security Identification Number (WKN) A0MZS3) and VEM Aktienbank AG have
jointly set the issuing price for shares issued within the framework of the
IPO at Euro 3.80. Shares are therefore being allocated at the top end of
the book building range of Euro 3.40 to Euro 3.80. Great demand from German
and international investors meant that the offering was clearly
oversubscribed. The complete placement of the shares and the greenshoe was
Euro 31.4 million. The initial listing will take place in the Entry
Standard of the Frankfurter Wertpapierbörse on Tuesday, 20 November 2007
The offer involved 7,500,000 shares derived in full from a capital
increase, as well as a greenshoe of a further 750,000 shares. One half of
the greenshoe will also be derived from a capital increase, while the other
half is to be provided by existing shareholders, who have also undertaken
to comply with a lockup period of 12 months to 18 months for their other
shares. If the additional allocation option is exercised in full, then the
company will receive gross proceeds of Euro 29.9 million. The free float
will then amount to 29.6 %.
GCPC reports high growth rates
Founded in 2002, GCPC develops and produces a wide range of mobile
telephone housings and modules with its 1,241 employees, providing its
customers, most of which global players, with integrated solutions from
design through to production.
In the 2006 financial year, GCPC generated sales of Euro 15.7 million
(2005: Euro 9.3m) and posted EBIT of Euro 3.4 million (2005: Euro 0.8m).
Net income grew from Euro 0.5 million in 2005 to Euro 2.2 million in 2006.
In the first six months of 2007, GCPC increased its sales by 62% from Euro
6.3 million in the first half of the previous year to Euro 10.3 million.
The company's EBIT rose by 154% from Euro 1.1 million to Euro 2.8 million.
This is equivalent to an EBIT margin of 27%.
The Management Board expects the annual net surplus for the current 2007
financial year to amount to around Euro 6.0 million. This is equivalent to
growth of 173%.
The company's continuously growing customer base includes renowned
electronics manufacturers, such as Flextronics, Perlos and Alcatel. GCPC
supplies Flextronics and Perlos, for example, with modules used in the
production of handsets for the mobile phone manufacturers Nokia and Sony
Ericsson. GCPC will channel the predominant share of the proceeds from the
IPO into the expansion of its production facilities in China. In this way,
the company also aims to satisfy its customers, who are demanding larger
job lots and are increasingly looking to outsource technically
sophisticated production steps in a cost effective way without sacrificing
any quality aspects in the process.
Further information is available on the internet at www.greater-cpc.com.
VEM Aktienbank AG
Volker Rofalski
+49-89/23001-380
v.rofalski@vem-aktienbank.de
Haubrok Investor Relations
Michael Kempkes
+49-211/30126-0
M.Kempkes@Haubrok.de
Disclaimer
This publication does not constitute an offer to sell or a solicitation of
an offer to buy or subscribe for any securities. No offer of securities of
Greater China Precision Components Limited is being, or will be, made to
the public outside Germany. A prospective offer in Germany would be made
exclusively be means of a securities prospectus to be published and filed
with the Bundesanstalt für Finanzdienstleistungsaufsicht. Any decision to
invest in the securities of Greater China Precision components Limited
offered should solely based on the securities prospectus. Copies of the
securities prospectus are available free of charge from VEM Aktienbank AG,
Rosental 5, 80331 München, Fax: 00 49 (0) 89 23 00 1 - 111 or on the
company's websitse (www.greater-cpc.com).
This publication and the information contained therein is not for
distribution or publication, neither directly nor indirectly, in or into
the United States of America, Canada, Australia or Japan. This publication
does not constitute an offer for sale of any securities into the United
States. Securities, including any shares of Greater China Precision
Components Limited in the course of a prospective offer, may not be offered
or sold in the United States or to, or for the account or benefit of, US
persons (as such term is defined in Regulations S under the Securities Act
of 1933 as amended (the "Securities Act")) unless they are registered under
the Securities Act or exempt from registration. Neither Greater China
Precision Components Limited nor any potential selling shareholders intend
to register a prospective offer, or any part thereof, in the United States
or to make a public offer of securities in the United States.
16.11.2007 Financial News transmitted by DGAP
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Language: English
Issuer: Greater China Precision Components Ltd.
7 Temasek Boulevard #13-02 Suntec Tower One
038987 Singapur
Singapur
Phone: +65 6339 9866
Fax: +65 6332 1169
E-mail: investor@greater-cpc.com
Internet: www.greater-cpc.com
ISIN: SG9999005052
WKN: A0MZS3
Listed: Open Market (Entry Standard) in Frankfurt
Notierung vorgesehen / designated to be listed
End of News DGAP News-Service
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