Press releases

ZhongDe Waste Technology AG sets offer price and issue volume

Hamburg, July 5, 2007

 

Offer price set at EUR 26,00 per share

Shares approximately 13.5 times oversubscribed at the upper end of price range

Gross proceeds of the offering will amount to approximately EUR 109 million (including greenshoe option)

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 per cent 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 of their order reduced by 60 shares.

 

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.

 

 

Contact

Matthias Link
Director
Citigate Dewe Rogerson GmbH
Goethestraße 26-28
60313 Frankfurt am Main
Tel: 0049-69 90 500-150
Fax: 0049-69 90 500-102
E-Mail: matthias.link@citigatedr.de
Internet: www.citigatedr.de

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