DGAP-News: Haikui Seafood AG announces IPO details
(firmenpresse) - DGAP-News: Haikui Seafood AG / Key word(s): IPO
Haikui Seafood AG announces IPO details
24.04.2012 / 11:00
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Haikui Seafood AG announces IPO details
- Price range between EUR 10.00 to EUR 13.00
- Offering volume of up to 1,725,000 shares
- Company intends to raise gross proceeds with the sale of New Shares of
up to EUR 19.5 million
Hamburg, April 24, 2012 - Haikui Seafood AG, an established seafood
processing company operating in international markets and China, is
offering up to 1,500,000 shares for its IPO on the Prime Standard of the
Frankfurt Stock Exchange. The shares originate from a capital increase. The
public offering in Germany and Luxembourg additionally includes an
over-allotment option of up to 225,000 shares from two existing
shareholders. The price range for the shares is between EUR 10.00 and EUR
13.00. The offer volume would lead to maximum proceeds of EUR 22.4 million,
of which a maximum of EUR 19.5 millions would relate to the sale of New
Shares.
'The offering provides investors with a good opportunity to profit from the
intended growth of Haikui, which the investors directly support by
investing in our company', says Chen Zhenkui, CEO of Haikui Seafood AG.
Haikui plans to use the net proceeds from the sale of New Shares of
approximately 55-75% to support certain investments, especially the partial
financing of a new factory near to its current processing facilities on
Dongshan Island in the Southeast of China, Fujian province. In addition,
around 25-45% of the net proceeds shall be used for general working capital
purposes. All current shareholders have agreed to a hard, respectively soft
lock-up period of 12 months from the first day of trading. The soft lock-up
agreement enables the shareholders to sell their existing shares only with
the Joint Lead Managers consent.
The book building period starts on 24 April 2012 and is expected to end on
10 May 2012 at 12:00 CEST for retail investors and 4:00 pm CEST for
institutional investors. The initial listing on the Prime Standard of the
Frankfurt Stock Exchange is scheduled for 15 May 2012. The IPO prospectus
was approved by BaFin and published on the website of Haikui Seafood AG at
www.haikui-seafood.com on 23 April 2012.
Substantial growth during the past three years
With its balanced business model, which serves the Chinese market for
branded and white label products as well as the international market for
white label products, Haikui Seafood achieved sales of EUR 152.1 million in
2011. The profit from operations (EBIT) reached EUR 34.0 million. The net
profit amounted to EUR 28.3 million, representing a net profit margin of
18.6%. During the past three years, Haikui Seafood achieved a compounded
annual sales growth rate of 26.8% and a net profit growth of 25.4%.
The Offering consists of a public offering in Germany and Luxembourg and
private placements to institutional investors outside Germany, Luxembourg
and the United States of America. Joint Bookrunners and Joint Lead Managers
of the transaction are BankM - representative office of biw Bank für
Investments und Wertpapiere AG from Frankfurt/Main and Pareto Securities AS
from Oslo, an investment bank owning special expertise in the seafood
industry. Selling agents are Cortal Consors S.A., DAB Bank AG, flatex AG,
ING-DiBa AG, S Broker AG&Co. KG and ViTrade AG.
Haikui Seafood AG: ISIN / WKN / Ticker: DE000A1JH3F9 / A1JH3F9 / H8K
About Haikui Seafood AG
Haikui Seafood AG processes fish and seafood for the Chinese and
international markets. The product portfolio comprises more than 100
different products from frozen or canned fish and seafood, produced from a
large variety of species of raw fish and seafood, including prawn, crab,
various fish species and shellfish as well as cephalopods. Clients of
Haikui Seafood are distributors in China and overseas, located mainly in
Asia, the U.S and Europe. Haikui Seafood employs around 600 permanent
employees and on average around 1,600 additional temporary workers. The
Company has an annual processing capacity of around 28,500 tons (output).
The processing facilities are located in the South-East of China on
Dongshan Island, Zhangzhou, Fujian Province. The Haikui-Group operates a
streamlined supply chain including self-owned processing facilities,
in-house research and product development capacities as well as warehouses
and cold storage facilities, while simultaneously cooperating closely with
raw goods suppliers.
For further information please visit www.haikui-seafood.com or contact
Kirchhoff Consult AG
Dr. Kay Baden
Tel.: +49 (0)40 609 186 39
baden(at)kirchhoff.de
Disclaimer
The offer is being made solely by means of and on the basis of a securities
prospectus dated 23 April 2012, which is available on the Company's website
at www.haikui-seafood.com.
This document is not an offer of securities for sale in the United States
of America. Securities may not be offered or sold in the United States of
America absent registration or an exemption from registration under the
U.S. Securities Act of 1933, as amended. The shares in Haikui Seafood AG
have not been and will not be registered under the U.S. Securities Act of
1933, as amended, and are not being and will not be offered or sold in the
United States of America.
This document is only being distributed to and is only directed at (i)
persons who are outside the United Kingdom or (ii) to investment
professionals falling within Article 19(5) of the Financial Services and
Markets Act 2000 (Financial Promotion) Order 2005 (the 'Order') or (iii)
high net worth entities, and other persons to whom it may lawfully be
communicated, falling within Article 49(2)(a) to (d) of the Order (all such
persons together being referred to as 'qualified persons'). All securities
referred to herein are only available to, and any invitation, offer or
agreement to subscribe, purchase or otherwise acquire such securities will
be engaged in only with, qualified persons. Any person who is not a
qualified person should not act or rely on this document or any of its
contents.
End of Corporate News
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24.04.2012 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: Haikui Seafood AG
c/o Ashurst LLP, OpernTurm, Bockenheimer Landstraße 2-4
60306 Frankfurt am Main
Germany
Phone: +49 40 60 91 86 - 0
Fax: +49 40 60 91 86 - 60
E-mail: haikui(at)kirchhoff.de
Internet: www.haikui-seafood.de
ISIN: DE000A1JH3F9
WKN: A1JH3F
Listed: Regulierter Markt in Frankfurt (Prime Standard)
Notierung vorgesehen / intended to be listed
End of News DGAP News-Service
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