China Specialty Glass AG
July 01, 2011
€27.0m IPO, Exclusive distribution agreement with Compagnie de Saint-Gobain
The shares of China Specialty Glass AG have been traded at the Prime Standard of the Frankfurt Stock Exchange since Friday, July 1st, 2011. In a very difficult market environment, in particular for companies of Chinese origin (timing overlap with SinoForest scandal), a total of 3,000,000 ordinary bearer shares were placed with European and Asian investors. 2,650,000 shares came from a capital increase and an additional 350,000 greenshoe shares from the holdings of existing shareholders The issue price was €9.00 and the corresponding total issue size €27.0m.
In May 2011, global market leader Compagnie de Saint-Gobain signed a 10-year exclusive distribution agreement with China Specialty Glass for the Chinese market. China Specialty Glass will distribute the high-end Quantum Glass series (www.quantumglass.com) for Saint-Gobain. Saint-Gobain will also provide technical training as well as significant marketing and sales support to CSG. Purchase prices and minimum purchase volumes are subject to yearly renegotiations.
VISCARDI acted as Sole Global Coordinator, Joint Lead Manager and Joint Bookrunner in the IPO of China Specialty Glass. VISCARDI also acted as M&A adviser to China Specialty Glass with regard to the exclusive distribution agreement with Saint-Gobain.
China Specialty Glass AG is a specialty glass producer offering two main product categories: security glass (including bulletproof glass and intruder resistant glass mainly used in the banking and automotive industry) and construction glass (including specialty glass for the construction industry). China Specialty Glass has a remarkable financial track record, increasing its topline in 2010 by 37% yoy to € 70m as well as outstanding profitability levels with a net income margin of approx. 32% in 2010. China Specialty Glass’ corporate predecessor was founded in 1994. Its existing operative facility is located in Guangzhou, Guangdong Province, China and the group currently employs approx. 450 people.
Within the security glass market, the Group holds a monopolist-like market position with the next two competitors being less than a tenth of its size. China Specialty Glass is an industry pioneer and innovator and was the first to develop bulletproof glass “made-in-China”. Its “HingWah” brand is well established and known for high quality standards.
VISCARDI AG is an independent full service investment bank and provides a broad product offering covering the entire range of investment banking services for small and mid cap companies. Our Corporate Finance practice includes Mergers & Acquisitions, Equity Capital Markets and Debt Financing transactions for both listed and private companies. Our focus sectors are Technology, Industrial Products & Services, Renewable Energy & Infrastructure, Consumer Goods & Retailing, Real Estate and Health Care & Life Sciences.
Source: Prospectus dated June 17, 2011
<- Back to: News Archive
€27.0m IPO, Exclusive distribution agreement with Compagnie de Saint-Gobain
The shares of China Specialty Glass AG have been traded at the Prime Standard of the Frankfurt Stock Exchange since Friday, July 1st, 2011. In a very difficult market environment, in particular for companies of Chinese origin (timing overlap with SinoForest scandal), a total of 3,000,000 ordinary bearer shares were placed with European and Asian investors. 2,650,000 shares came from a capital increase and an additional 350,000 greenshoe shares from the holdings of existing shareholders The issue price was €9.00 and the corresponding total issue size €27.0m.
In May 2011, global market leader Compagnie de Saint-Gobain signed a 10-year exclusive distribution agreement with China Specialty Glass for the Chinese market. China Specialty Glass will distribute the high-end Quantum Glass series (www.quantumglass.com) for Saint-Gobain. Saint-Gobain will also provide technical training as well as significant marketing and sales support to CSG. Purchase prices and minimum purchase volumes are subject to yearly renegotiations.
VISCARDI acted as Sole Global Coordinator, Joint Lead Manager and Joint Bookrunner in the IPO of China Specialty Glass. VISCARDI also acted as M&A adviser to China Specialty Glass with regard to the exclusive distribution agreement with Saint-Gobain.
China Specialty Glass AG is a specialty glass producer offering two main product categories: security glass (including bulletproof glass and intruder resistant glass mainly used in the banking and automotive industry) and construction glass (including specialty glass for the construction industry). China Specialty Glass has a remarkable financial track record, increasing its topline in 2010 by 37% yoy to € 70m as well as outstanding profitability levels with a net income margin of approx. 32% in 2010. China Specialty Glass’ corporate predecessor was founded in 1994. Its existing operative facility is located in Guangzhou, Guangdong Province, China and the group currently employs approx. 450 people.
Within the security glass market, the Group holds a monopolist-like market position with the next two competitors being less than a tenth of its size. China Specialty Glass is an industry pioneer and innovator and was the first to develop bulletproof glass “made-in-China”. Its “HingWah” brand is well established and known for high quality standards.
VISCARDI AG is an independent full service investment bank and provides a broad product offering covering the entire range of investment banking services for small and mid cap companies. Our Corporate Finance practice includes Mergers & Acquisitions, Equity Capital Markets and Debt Financing transactions for both listed and private companies. Our focus sectors are Technology, Industrial Products & Services, Renewable Energy & Infrastructure, Consumer Goods & Retailing, Real Estate and Health Care & Life Sciences.
Source: Prospectus dated June 17, 2011
<- Back to: News Archive