Ming Le Sports AG (ISIN: DE000A1MBEG8) joined the Prime Standard of the Frankfurt Stock Exchange (FWB) on 6 July. The IPO comprised 503,790 shares (444,000 shares from a capital increase). The issue price was €13.00 and the initial listing price €13.20. The issue volume was €6.55 million.
Wolfgang Steubing AG is the lead manager, designated sponsor and specialist.
“We welcome Ming Le Sports AG to the Prime Standard of the Frankfurt Stock Exchange,” said Barbara Georg, Head of Listing & Issuer Services at Deutsche Börse. “The Prime Standard represents the highest transparency requirements, including quarterly financial reports and regular analyst conferences. Prime Standard companies are thus excellently positioned for international investors.”
Siliang Ding, CEO of Ming Le Sports said, “The price range was between €8.00 and €16.00 per share. The company has achieved its goal to be listed in the Prime Standard of the Frankfurt Stock Exchange – and this at an attractive price level. The involved investors are convinced of the value of their investment in the Ming Le Sports AG.”
According to the company's own information, Ming Le is a fast-growing company for branded sportswear in China, with a target customer group of 16-35 year old men and women with an urban, dynamic and active lifestyle. Its products include shoes, clothing, accessories and equipment. Ming Le markets and sells its products via a network of 24 sales partners to over 3,300 retail units in China. As at 31 March 2012, the company employed 1,293 people.
So far, 12 Chinese companies are listed in the Regulated Market of the FWB: 11 in the Prime Standard and 1 in the General Standard. 8 Chinese companies are listed in the Entry Standard.