Asian Bamboo AG, a leading producer of bamboo trees and organic
bamboo shoots in China, today announced details of its forthcoming
initial public offering on the Prime Standard of the Frankfurt Stock
Exchange. The offer period is expected to commence on the 8th November
2007 and will presumably end no later than the 14th November 2007. The
price range will be published at a later stage, together with the
specific dates of the offer period via an ad-hoc announcement. The
listing of the Asian Bamboo AG shares (with the German Securities
Identification Number A0M6M7, the ISIN DE000A0M6M79 and the Ticker
Symbol 5AB) is expected to occur on the 16th November 2007.
Up to 5,586,700 no par value ordinary bearer shares will be
offered in a public offering in Germany and Luxembourg, as well as
private placements to institutional investors outside Germany,
Luxembourg and the United States. Of these shares up to 4,750,000
originate from a capital increase against cash contributions resolved
by the extraordinary shareholders´ meeting of 26 October 2007 and up
to 108,000 shares stem from the holdings of certain existing
shareholders. Up to 728,700 further shares will potentially be made
available for the over-allotment option (greenshoe option). Mr. Zuojun
Lin, founder, CEO and majority shareholder of Asian Bamboo AG, will
only sell own shares if the greenshoe option is exercised and will
hold post-IPO still more than 50% of the voting capital. Zuojun Lin
and other existing shareholders have committed themselves to a lock-up
period of 12 months and 6 months, respectively. After completion of
the capital increase and the full exercise of the greenshoe option,
the free float is expected to amount to approx. 44%.
The company expects to raise approximately EUR 75 million through
the IPO and intends to use the net proceeds raised in the offering
primarily to finance the long-term contracting of additional bamboo
forests in China. Moreover, the processing facilities for bamboo
shoots and trees are set to be expanded. Thus, Asian Bamboo AG intends
to set up its own bamboo flooring plant which is intended to commence
in early 2009.
Sal. Oppenheim jr. & Cie. KGaA is acting as Global Coordinator and
Sole Bookrunner. Sal. Oppenheim and the Bank of China International
(BOCI Asia) are acting as Joint Lead Managers in the offering.
Comdirect Bank AG, Cortal Consors S.A. and DAB bank AG will act as
Selling Agents.
Asian Bamboo AG focuses on two main business segments: bamboo
trees and organic bamboo shoots. Bamboo trees are used as a fast
growing and sustainable alternative to wood in industries as diverse
as construction, flooring, furniture and paper. Organic bamboo shoots
are sold as fresh shoots to local agricultural markets as well as
further processed and exported mainly to Japan.
Asian Bamboo AG has around 300 employees and operates four
processing facilities for bamboo shoots in addition to the cultivation
of bamboo. Over the last three years, Asian Bamboo AG has achieved a
compound annual growth rate (CAGR) of 79% in revenues to EUR 10.89
million in 2006. In the first half of 2007, Asian Bamboo AG generated
revenues of EUR 5.37 million - 20% more than in the respective period
in 2006. Given an adjusted profit of EUR 1.62 million the adjusted net
profit margin was approximately 30%.
Mr. Zuojun Lin, CEO of Asian Bamboo AG, comments: "The IPO will
greatly help us to achieve our growth objectives. Our business
benefits from an increasing demand for bamboo as a fast growing and
sustainable alternative to wood as well as changing nutrition habits
in favour of organic food, especially among Chinese consumers.
Investing in Asian Bamboo AG provides the opportunity to participate
directly in these growing market segments in China."
The securities prospectus was approved by the German Federal
Financial Services Supervisory Authority (BaFin) on 31 October 2007.
It can be downloaded on the website of Asian Bamboo AG
(www.asian-bamboo.de) and is also available in print form from the
Company and Sal. Oppenheim (fax number: +496971345169).
About Asian Bamboo AG
Asian Bamboo Group is a leading bamboo producing company in China
focusing on two business segments: bamboo trees and organically grown
bamboo shoots. Due to long-term contracts the company at this stage
has access to 13 bamboo plantations comprising a total acreage of more
than 14,600 ha (36,077 acres) in the Fujian province, one of the most
important and suitable areas for the growing of bamboo in China.
Over the last three years, Asian Bamboo AG has achieved a compound
annual growth rate (CAGR) of 79% in revenues to EUR 10.89 million in
2006 and - adjusted for changes in the fair value of biological assets
- a CAGR of 127% in net profit to EUR 3.94 million in 2006. In the
first half of 2007 Asian Bamboo AG generated revenues of EUR 5.37
million.
Asian Bamboo AG´s registered office is located in Hamburg,
Germany. Its production facilities are located in the China´s Fujian
province, one of the main areas for growing bamboo in the People´s
Republic of China. As of 30 September 2007, Asian Bamboo AG had
approximately 300 employees.
Further information on Asian Bamboo AG can be obtained at:
www.asian-bamboo.de
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This publication constitutes neither an offer to sell nor a
solicitation to buy securities. 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 Asian Bamboo AG should only be made
on the basis of the securities prospectus. The securities prospectus
is available free of charge from Sal. Oppenheim jr. & Cie. KGaA (fax
number: +496971345169), or on the Company´s website
(www.asian-bamboo.de)
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 Asian Bamboo 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.
