FRANKFURT AM MAIN, Germany--()--Goldrooster AG (ISIN: DE000A0AYYU6) joined the Entry Standard of the Frankfurt Stock Exchange on 18 May. The IPO comprised a total of 720,000 shares (excluding greenshoe) at a fixed price of €4.00. The initial listing price €4.10.
The lead manager is VEM Aktienbank AG. Schnigge Wertpapierhandelsbank AG is acting as specialist.
“The Entry Standard is the ideal segment for Goldrooster AG because it is particularly attractive for young and established small-caps and mid-caps. The shares will be easily, quickly and cost-efficiently included in trading. The company may also be eligible for promotion to the EU-regulated market at a later date,” said Alexander Höptner, Head of Markets Services at Deutsche Börse.
“Goldrooster Group has achieved rapid and significant growth since its inception. With the IPO of Goldrooster AG, the German holding company of Goldrooster Group, we want to utilise upcoming growth opportunities more quickly and push our expansion strategy. We have chosen the stock exchange in Frankfurt, because it is one of the most important stock markets in the world and is interesting especially for us as a medium-sized Chinese company,” said Ashley Soh, CFO and member of the management board of Goldrooster AG.
Goldrooster runs a sports fashion label in China, specialising in apparel, footwear and fashion accessories for the Chinese market. According to its own information, the company targets China’s young and ambitious middle class ranging in age from 18 to 35.
Due to the protest rally known as “Blockupy Frankfurt” and related security issues the IPO had to be relocated to Deutsche Börse’s headquarters in Eschborn.
To date 33 Chinese companies are listed on the Frankfurt Stock Exchange: Prime Standard 10, General Standard 1, Entry Standard 7, Open Market (FQB) 15.