DGAP-News: FAST Casualwear AG: IPO on 9 July
(firmenpresse) - DGAP-News: FAST Casualwear AG / Key word(s): IPO
FAST Casualwear AG: IPO on 9 July
28.06.2012 / 15:55
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FAST Casualwear AG: IPO on 9 July
* Price range between EUR 5.00 to EUR 6.00
* Offering volume of up to 1,725,000 shares
* Offering period from 29 June until 5 July 2012
Cologne, 28 June 2012 - FAST Casualwear AG, a thriving manufacturer of
casual footwear and apparel in China, plans the initial listing of its
shares in the Prime Standard of the Frankfurt Stock Exchange on 9 July
2012.
In its IPO, FAST is offering up to 1,725,000 shares in the context of a
public offer made in Germany and Luxembourg. The public offering includes
1,500,000 New Shares originating from a capital increase and an
over-allotment option of 225,000 shares of existing shareholders.
The price range of the shares lies between EUR 5.00 and EUR 6.00. This
represents an offer volume of up to EUR 10.4 million. Given that all shares
will be placed (including the over-allotment option), the Company's free
float will amount to approximately 21.3% of its total share capital.
The subscription period begins on 29 June and ends on 5 July 2012. On the
final day of the Offering Period, retail and institutional investors will
be able to submit orders until 12:00 CEST. The initial listing on the Prime
Standard of the Frankfurt Stock Exchange is scheduled for 9 July 2012. Lead
Manager, Sole Bookrunner and Global Coordinator is Kepler Capital Markets
S.A., Frankfurt Branch.
The IPO prospectus was approved by BaFin and published on the website of
FAST Casualwear AG at www.fast-casualwear.com.
FAST plans to use the net issue proceeds from the sale of the New Shares to
strengthen the Company's financial position as well as to support the
intended expansion of its activities and the implementation of its
strategy. In particular, the Company aims to finance its growth by
expanding its distribution network and production capacity. The Listing is
also intended to enable the Company to sharpen its public profile and
promote its fashion brand.
Total revenues of FAST grew from EUR 58.3 million in 2009 to EUR 82.2
million in 2011. Revenues with products under the FAST brand nearly doubled
from EUR 30.9 million in 2009 to EUR 59.5 million in 2011. In the FAST
OEM/ODM segment revenues also increased from EUR 15.9 million in 2009 to
EUR 19.4 million in 2011. In the same period the total profit from
operations (EBIT) almost tripled from EUR 5.9 million in 2009 to EUR 16.8
million in 2011, representing an EBIT margin of 20.4% in 2011 (2009:
10.1%).
A strong first quarter 2012 with revenues of EUR 21.1 million (first
quarter 2011: EUR 16.8 million) and an EBIT of EUR 5.5 million (2011: EUR
2.9 million) indicate further highly profitable growth for the financial
year 2012.
About Fast Casualwear AG
FAST Casualwear AG is the German holding company of FAST Group, a Chinese
group of companies engaged in the design, production and sale of
casualwear, consisting of footwear and apparel including accessories. It
mainly designs and produces casualwear under its own brand name 'FAST',
targeting consumers aged between 16 and 35 primarily in the lower tier
cities in China. FAST distributes its own brand products through 21
unaffiliated regional distributors, who sell the products via retail
outlets operated either by themselves or by third party sub-distributors.
Its distribution network consists of more than 770 retail outlets in over
100 cities throughout China. FAST also designs and produces footwear as
contract manufacturer for international brand owners, mainly from Europe
and the U.S. FAST's operating facilities are located in the southeast of
China in Jinjiang City, Fujian Province, one of the largest footwear
manufacturing hubs in China. FAST employs more than 1,100 employees.
For further information please visit www.fast-casualwear.com or contact
Kirchhoff Consult AG
Dr. Kay Baden
Tel: +49 (0)40 609 186 39
E-mail: baden(at)kirchhoff.de
Disclaimer
This publication constitutes neither an offer to sell nor a solicitation to
buy securities. The offer is being made solely by means of and on the basis
of a securities prospectus dated 28 June 2012, which is available on the
Company's website at www.fast-casualwear.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 FAST Casualwear 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 directed at and/or for distribution in the U.K. only to
(i) persons who have professional experience in matters relating to
investments falling within article 19(5) of the Financial Services and
Markets Act 2000 (Financial Promotion) Order 2005 (the 'Order') or (ii)
high net worth entities falling within article 49(2)(a) to (d) of the Order
(all such persons being together referred to as 'relevant persons'). This
document is directed only at relevant persons. Any person who is not a
relevant person should not act or rely on this document or any of its
contents. Any investment or investment activity to which this document
relates is available only to relevant persons and will be engaged in only
with relevant persons.
End of Corporate News
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