VSG Vange Software Group AG
VSG Vange Software Group AG: Offering for the IPO begins on 8 June
VSG Vange Software Group AG / Key word(s): IPO Vange Software Group AG: Offering for the IPO begins on 8 June – Offering period expected from 8 to 18 June 2012 – Price range: 26 to 31 euros – No dilution of existing shareholders / lock period of 6 to 12 months – First Chinese software company on the German stock market – Sales and EBIT more than tripled in the past three years 6 June 2012 – The offering period as part of the IPO on the Entry Standard of the Frankfurt stock exchange begins on 8 June 2012 for Vange Software Group AG, VSG, (WKN: A1JTW0, ticker: VWA). A total of up to 1,000,000 registered shares will be offered presumably until 18 June (16:00 MESZ) under a public offering in Germany and Austria as well as a private placement outside Japan and the USA. The share price will range from 26 to 31 euros. The shares were all generated from a capital increase. Existing shareholders will not be selling any shares and have all committed to a lock up period of 12 months for members of management and 6 months for private equity investors. Once the transaction has been completed, VSG’s free float will amount to up to 20 percent. The remaining shares are held by members of management as well as well-known national and international private equity investors. The first listing in the Entry Standard is planned for 21 June. The transaction will be assisted by VEM Aktienbank AG as the lead manager and LFG Kronos Investment Services GmbH as the selling agent. Vange Software Group AG is the first-ever Chinese software company to be listed in Germany. VSG is a high-tech company based in China with a holding company in Switzerland. The company is a leading provider of software solutions for the Chinese housing financing industry. These financial institutions, which have a similar approach to German Bausparkassen (building societies), are prescribed by law by the Chinese government to enable all citizens to access favourable property financing. They are part of the People’s Republic of China’s social welfare system. Housing Provident Funds (HPFs) are based on compulsory premiums paid by Chinese employees; some 700 HPFs currently exist in China. They have to process large amounts of data and adapt to legal requirements. HPFs currently manage the equivalent of some 120 billion euros and grow by an average of 25 percent per year. VSG has a HPF software market share of more than 10 percent, making it the number 2 in this growth market, just behind the leading provider. The advantages of VSG include the strong position of modular, technically mature and patented software as well as innovative payment models with a high share of recurring revenues. The modular design and the specialisation in large amounts of encrypted data also make entry into additional markets an attractive prospect for VSG Software. In the past three financial years, VSG has more than tripled sales to the equivalent of 40.9 million euros and achieved above-average growth in earnings before interest and taxes to 19.6 million euros in 2011. The company plans to use the funds generated by the IPO to finance additional growth, make selected acquisitions and finance strategic actions, such as establishing new operational, research and development centres. For more information on Vange Software Group AG, visit www.vsg-group.com Contact: Vange Software Group AG edicto GmbH Disclaimer This publication constitutes neither an offer to sell nor a solicitation to buy securities of Vange Software Group AG. The offer is being made solely by means of, and on the basis of, the published securities prospectus (including any amendments thereto, if any). An investment decision regarding the publicly offered securities of Vange Software Group AG should only be made on the basis of the securities prospectus. The securities prospectus is available free of charge from the Company and from VEM Aktienbank AG as well as on the Company’s website (www.vsg-group.com). This document is not an offer of securities for sale or a solicitation of an offer to buy securities in the United States. The shares of Vange Software Group AG (‘Shares’) have not been registered under the U.S. Securities Act of 1933, as amended (‘Securities Act’) and may not be offered or sold in the United States, unless registered under the Securities Act or according to an exemption from such registration. There will not be any public offering of the Shares in the United States and the Shares will not be registered under the Securities Act. This document is only aimed at and is only distributed to (i) individuals 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 (‘Order’) or (iii) high net worth entities, and other individuals to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (together referred to as ‘relevant persons’). The Shares are only available to, and any invitation, offer or agreement to subscribe, buy or otherwise acquire such securities will be engaged in only with, relevant persons. Any individual who is not a relevant person should not act or rely on this document or any of its contents. End of Corporate News 06.06.2012 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 |
173129 06.06.2012 |