China Specialty Glass AG (CSG), the German holding company of China Specialty Glass Group, said 9 June 2011 it intends to go public at the Frankfurt stock exchange in June 2011, depending on market co…
China Specialty Glass AG (CSG), the German holding company of China Specialty Glass Group, said 9 June 2011 it intends to go public at the Frankfurt stock exchange in June 2011, depending on market conditions. CSG intends to be listed in the “Prime Standard“ segment of the Frankfurt stock exchange and use the proceeds from the initial public offering to finance its expansion strategy. CSG, a producer of security glass, had earlier considered a listing of its shares in December 2010, but decided to postpone the IPO due to an unfavorable environment. The global coordinator of the transaction will be Viscardi AG. biw Bank fr Investments und Wertpapiere AG (Bank for Investments and Securities) is acting as joint book runner and joint lead manager. The company said it plans to use the expected proceeds from the IPO to finance further internal and external growth, including selected acquisitions. The company also plans a new production base as well as the modernization and expansion of the existing production facilities. CSG“s declared net profit for the first three months of 2011 was EUR 5.4 million and revenues were EUR 16.4 million. The company noted that compared with the previous year, this represents a revenue increase of 43.5% and an increase in net profit of 60.4%.