Madison Property AG
Madison Property AG: Price Range for IPO is EUR 26 to EUR 29
Madison Property AG / Key word(s): IPO 19.11.2010 13:07 --------------------------------------------------------------------------- * Offer period to end on 2 December 2010 * IPO is scheduled for 6 December 2010 * Offering volume of up to EUR 18.3 million Berlin/Frankfurt, 19 November 2010 - Madison Property AG, a large scale property developer in Shandong Province and Chongqing, China, intends to do an IPO on the Entry Standard on 6 December 2010. In the context of a public offer, shares can be subscribed at a price between EUR 26 and EUR 29. On the basis of the price range and the up to 632,500 shares offered, the offering volume amounts to between EUR 16.4 million to EUR 18.3 million 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. The offering consists of up to 632,500 shares, consisting of 575,000 new shares to be issued in a capital increase and 57,500 greenshoe shares offered by existing shareholders in connection with a potential overallotment. The offer period is expected to end on 2 December 2010. VEM Aktienbank AG is the lead manager of the IPO. Retail investors can submit orders at comdirect bank AG, Cortal Consors, DAB bank AG, flatex AG, S Broker and ViTrade. The net proceeds of the IPO will be used by Madison for the construction of future projects, particularly for 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. 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. 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 constitutes neither an offer to sell nor a solicitation to buy securities of Madison Property AG. The offer is being made solely by means of, and on the basis of, the published securities prospectus (including any supplements thereto). An investment decision regarding the publicly offered securities of Madison Property AG should only be made on the basis of the securities prospectus. The securities prospectus is available free of charge from the Company, the syndicate bank or on the Company's website (www.madisonproperty.de). 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 19.11.2010 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 ---------------------------------------------------------------------------
Latest News
Latest Reports
No Reports found
Upcoming Events
No Events found
Webcasts
No Webcasts found