Frankfurt, Germany / Weifang, People’s Republic of China, 20 May 2010
The Board of Directors of Euro Asia Premier Real Estate Company Limited (“Euro Asia” or “The Company”), a Chinese real estate developer, today announced that further to the Company’s announcement on 29 March, book building for its intended listing on the Entry Standard segment of the Deutsche Boerse, will run from 20 to 25 May 2010.
As the Company and its lead bank, mwb fairtrade Wertpapierhandelsbank AG, today announced at an analyst conference, one million ordinary shares are offered through an increase of the authorised capital to investors, with the possibility of a further 200,000 shares through a greenshoe. Shares are priced at Euro 5.00 to 6.00. The first day of trading is envisaged to be 26 May 2010.
At the intended price, the Company will raise between EUR 5 million to EUR 6 million, with the proceeds going towards project development. Following the IPO, Euro Asia will have 11 million shares outstanding. Upon full subscription and additional placement of the green shoe shares, the company will have a maximum free float of 9.1%.
Chairman of the Board, Mr Sun XiYi stated, “The intended listing marks a mile stone in our development. We are in a strong financial position with very limited debt, and with an existing portfolio of rental properties, the proceeds of which cover our operating costs. This sound position allows us to use the proceeds of the capital increase for project development purposes, and therefore the building of shareholder value. In addition, the listing on Deutsche Boerse will have a significant positive effect on our standing with our business partners and thereby further strengthening our competitive position. The listing will greatly benefit our efforts in becoming the dominant project developer in Weifang.”
Euro Asia is a developer of real estate projects, predominantly active in the city of Weifang in the Shandong province of the People’s Republic of China. Euro Asia currently holds a number of properties and has a project portfolio, acquired through its JV partner SNI. With limited debt and existing revenues, management believes the Company is in an excellent position to benefit from the strong growth in demand for both commercial and residential property in the region, a development supported by government policy. In addition to existing demand and organic growth of the economy, an important driver for the real estate market will be the relaxation of urbanization legislation, facilitating migration to prefecture-level cities such as Weifang.
IPO and Share Details
- Market segment: Entry Standard (Open Market)
- ISIN: VGG3223A1057
- WKN: A0YGJM
- Ticker: JT9
- Placement shares: 1,000,000 Ordinary Shares
- Green shoe: 200,000 Ordinary Shares
- Shares outstanding: 11,000,000 Ordinary Shares (post IPO)
- Price range: Euro 5.00 to 6.00
- Subscription period: 20 to 25 May 2010
- Planned first day of trading: 26 May 2010
- Lead Bank: mwb Fairtrade Wertpapierhandelsbank AG
- Selling Agents: DAB bank AG, S Broker AG & Co. KG
- Selling Support: comdirect bank AG, CortalConsors S.A.
The prospectus can be viewed at the company’s website: www.eu-asia.net
About Euro Asia
Euro Asia is a BVI registered company, active in real estate development in the Shandong area of the People’s Republic of China. The Company operates locally through its subsidiaries, jointly owned with SNI. Generating leasing revenues from a number of commercial properties, the Company has a number of other projects under development. By utilizing its strong local network to banks, political decision makers, land owners and other developers, the Company intends to grow its position in the region prior to moving into other prefecture-level cities cities.
About mwb fairtrade Wertpapierhandelsbank AG
mwb fairtrade AG is one of the leading securities trading banks in Germany. It was created from the merger of mwb Wertpapierhandelsbank AG and Fairtrade Finance AG. As an official broker, mwb fairtrade manages over 16,000 order books and is admitted to all of the German stock exchanges. In addition to office in Graefelfing near Munich, we also maintain branch offices in Frankfurt, Hamburg, Hanover, and in Berlin. mwb fairtrade has a focus on two business activities: securities trading and capital markets. This makes us one of the few companies that covers all of the significant segments of the securities trading business.
Disclaimer
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). Euro Asia does not intend to register any part of the under the U.S. Securities Act of 1933, as amended, and the Shares are not being offered and will not be offered or sold in the United States of America.