Madison Property AG
Madison Property AG announces IPO and uplisting to Entry Standard
Madison Property AG / Key word(s): IPO 16.11.2010 17:15 --------------------------------------------------------------------------- * Chinese large scale property developer aims to uplist in the Entry Standard * Expected offering volume of up to EUR 18 million * In Financial Year 2009/10 revenues reached EUR 63.5 million (+11%) * Net profit margin of 14.5% Berlin, 16 November 2010 - Madison Property AG, a large scale property developer in Shandong Province and Chongqing, China, intends to do a capital increase in connection with a public offer this year. The company which is listed in the Open Market of the Frankfurt Stock Exchange since August 2010 plans to uplist in the Entry Standard and raise proceeds of up to EUR 18 million. Madison focuses on high quality residential properties and has a track record of 14 completed projects/project phases with a Gross Floor Area (GFA) of almost 700,000 sqm. The company has a two-pronged geographic strategy, operating firstly in its home market Shandong Province and secondly in the municipality of Chongqing, the fast growing hub in Central China. These regions are prospering economies with a fast growing and robust real estate market. Madison is intending a public offer in Germany and Luxembourg as well as private placements to institutional investors outside Germany, Luxembourg and the United States. VEM Aktienbank AG is acting as lead manager. Strong track record and growth of revenues Founded in 1998, Madison focuses on residential properties as well as travel and leisure property projects. Since then, 14 projects or single project phases with a saleable GFA of almost 700,000 sqm have been completed and over 98% of the completed projects have been sold successfully. The total sales amount to more than RMB 2.5 billion (EUR 267 million). A further seven project phases, in total with a saleable GFA of around 230,000 sqm, are currently under construction. Madison's residential properties include high-rise apartments (typically higher than eleven floors), sub-high-rise apartments (typically seven to eleven floors), low-rise apartments (typically three to six floors), townhouses (typically two to three floors), and villas (typically independent houses with two to three floors). In each case, the properties are built with amenities such as commercial spaces and car parking facilities. During the last three fiscal years, the company managed to increase its revenues from EUR 54.1 million in 2007/08 to EUR 57.2 million in 2008/09 and EUR 63.5 million in 2009/10. Net profit during this period amounted to EUR 11.0 million in 2007/08, EUR 8.5 million in 2008/09 and EUR 9.2 million in 2009/10. High brand recognition in target markets Madison is recognised as a Class I property developer by the People's Republic of China Ministry of Housing and Urban-Rural Development and can therefore undertake projects nationwide without limitation on the construction scale. It has furthermore recently been selected as one of 'Qingdao's Top 10 Real Estate Development Enterprise with Comprehensive Strengths' by the Qingdao Municipal Construction Commission and was selected to be one of the 'Top 50 Provincial Real Estate Development Enterprises in Shandong Province' by the Shandong Provincial Real Estate Association. Net proceeds to finance projects in the pipeline and further expansion The net proceeds of the IPO are to be used by Madison for the construction of future projects, especially two projects named Fragrance Town Island Project (residential) and Phase I of Chongqing Project (industrial park) to be commenced early 2011, as well as for possible further expansion. About Madison Property AG Madison Property AG is a German stock corporation under the laws of Germany with its legal seat in Berlin. It is the holding company of Madison Property Group Limited which operates as a large scale property developer with its local subsidiaries in China, mainly in the Shandong Province and the municipality of Chongqing. Founded in 1998, Madison already completed and successfully sold 14 projects/project phases. It is focused mainly on residential properties with high quality and travel as well as leisure properties. Madison is recognised as a Class I property developer by the People's Republic of China Ministry of Housing and Urban-Rural Development and can therefore undertake projects nationwide without limitation on the construction scale. Disclaimer This publication is not an offer of any securities for sale or a solicitation of an offer to purchase any securities. Subject to approval by the German Financial Service Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht), a prospectus will be published, which will be available free of charge from Madison Property AG and the syndicate banks. The shares will be offered exclusively on the basis of the prospectus required to be approved by the German Financial Service Supervisory Authority. This document is not an offer of securities for sale or a solicitation of an offer to purchase securities in the United States. The shares of Madison Property AG (the 'Shares') have not been registered under the U.S. Securities Act of 1933, as amended (the 'Securities Act') and may not be offered or sold in the United States unless registered under the Securities Act or pursuant to an exemption from such registration. There will be no public offering of the Shares in the United States and the Shares will not be registered under the Securities Act. 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 'relevant persons'). The Shares are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents. For further information please contact: Kirchhoff Consult AG Dr. Kay Baden T: +49 40 60 91 86 34 F: +49 40 60 91 86 60 E-Mail: baden@kirchhoff.de or visit www.madisonproperty.de 16.11.2010 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de ---------------------------------------------------------------------------
Aktuelle News
Aktuelle Berichte
Keine Berichte gefunden
Anstehende Events
Keine Events gefunden
Webcasts
Keine Webcasts gefunden