The information contained in this document is not for publication
or distribution in the United States of America.
ZhongDe Waste Technology AG (the "Company") together with the
existing shareholders and Sal. Oppenheim jr. & Cie.
Kommanditgesellschaft auf Aktien acting as Global Coordinator and Sole
Bookrunner have set the offer price at EUR 26.00 per offer share. At
the offer price, which is at the upper end of the price range of EUR
23.00 to EUR 26.00, the shares were approximately 13.5 times
oversubscribed.
The offering consisted of 3,000,000 shares from a capital
increase, 639,360 shares from certain existing shareholders, as well
as 545,904 shares made available from existing shareholders for a
potential over-allotment (greenshoe option). The gross proceeds of the
offering will therefore, provided that the greenshoe option is
exercised in full, amount to approximately EUR 109 million. The
netproceeds to the Company resulting from the placement of the new
shares will be approximately EUR 72 million. If the greenshoe option
is exercised in full the free float will amount to approximately 32
percent.
Chen Zefeng, founder and CEO of ZhongDe Waste Technology AG,
comments: "The high oversubscription indicates the great interest in
particular of the institutional investors which can directly
participate in the growth of the Chinese economy via ZhongDe Waste
Technology shares. We are glad to see the ZhongDe Waste Technology AG
being the first Chinese enterprise listed at the Frankfurt Stock
Exchange."
95.4 percent of the shares have been allotted to institutional
investors in Germany, its neighbour countries, UK and Hong Kong, 4.6
percent to retail investors.
Because of the high oversubscription of the IPO it was not
possible to consider all orders. The allotment to private investors
was executed according to the regulations for IPOs as issued at June
7, 2000 by the Finance Ministry's Committee of Experts. The allotment
was based on standardised criteria for all syndicate banks: Every
private subscriber who has subscribed at a syndicate bank was
considered as follows: Subscriber with orders up to 300 shares
received an allotment of 20 % of their order. Those who had ordered
more than 300 shares receive an allotment of 60 shares, i.e. 20 per
cent of 300 shares, plus an additional allotment of 15 per cent.
Trading of the Company's shares is expected to commence on the 6th
July 2007 (with the German Securities Identification Number ZDWT01,
the ISIN DE000ZDWT018 and the Ticker Symbol ZEF) on the regulated
market (Geregelter Markt) (Prime Standard) of the Frankfurt Stock
Exchange.
BDO Deutsche Warentreuhand AG acts as auditor for the company.
About ZhongDe Group:
ZhongDe Group designs, manufactures and installs pyrolytic, grate
and rotary kiln waste incinerators for the disposal of solid medical,
municipal and industrial (including hazardous) waste. Since 1996
ZhongDe Group has installed more than 170 waste incinerators in about
13 provinces and in the last three financial years alone 112 waste
incinerators. Its waste incinerators are principally constructed for
operators of medical disposal centers in the hospital and healthcare
industry as well as for small and mid-sized Chinese cities in
developed areas of the People's Republic of China. The Management
Board of ZhongDe Group believes that ZhongDe Group is one of the
leading suppliers of small and mid-sized solid waste incinerators in
China.
This document constitutes neither an offer to sell nor a
solicitation to buy securities of ZhongDe Waste Technology AG. The
securities have already been sold.
This document is not an offer of securities for sale in the United
States of America. Securities may not be offered or sold in the United
States of America absent registration or an exemption from
registration under the U.S. Securities Act of 1933, as amended. The
shares in ZhongDe Waste Technology AG have not been and will not be
registered under the U.S. Securities Act of 1933, as amended, and are
not being and will not be offered or sold in the United States of
America.
This document is directed at and/or for distribution in the U.K.
only to (i) persons who have professional experience in matters
relating to investments falling within article 19(5) of the Financial
Services and Markets Act 2000 (Financial Promotion) Order 2005 (the
"Order") or (ii) high net worth entities falling within article
49(2)(a) to (d) of the Order (all such persons being together referred
to as "relevant persons"). This document is directed only at relevant
persons. Any person who is not a relevant person should not act or
rely on this document or any of its contents. Any investment or
investment activity to which this document relates is available only
to relevant persons and will be engaged in only with relevant persons.