Chinese green firm announces German IPO plan
Youbisheng Green Paper, the German holding company of a Chinese clean-tech linerboard maker, aims to list in the Prime Standard segment of the Frankfurt Stock Exchange in the third quarter of the year, Reuters reported today.
Joining a wave of Asian companies that have celebrated their bourse debut in Germany in recent years, Youbisheng said in a statement that it was aiming for proceeds of about 40 million euros (USD58.43 million) through the IPO, which would enable it to triple annual production capacity.
The group, which posted sales in fiscal year 2010 of about 75.3 million euros, and an EBIT margin of 23.4 percent, has been operating since 2000 and is the current biggest producer of linerboard in China's Fujian and Guangdong Provinces.
Linerboard is used to manufacture paper-based packaging for retailing and transporting goods, and environmentally friendly carrier bags.
It said the market debut could provide it with access to the nationwide Chinese market.