Riemann Assists Shenglong in Successful IPO on Kosdaq

2010-09-17 10:53 1944

SHANGHAI, Sept.17 /PRNewswire-Asia/ -- Riemann Investment Holdings Ltd. ("Riemann Investment"), as the sole financial advisor and one of the leading investors, advised Shenglong PV-Tech Investment Co. Ltd ("Shenglong PV-Tech") on its successful IPO on the KRX Kosdaq stock market on Sept. 15th, 2010. It became the first Chinese new & renewable energy company listed on the Korea Stock Exchange.

Shenglong PV-Tech (stock symbol: 900150) raised 50.4 billion Won (290 million RMB) with a P/E ratio of 14x based on the FY 2009 net profit. The offering of Shenglong PV-Tech attracted 15 times over subscription by institutional investors.

Suzhou Shenglong PV-Tech Co., Ltd, the domestic Chinese operating entity of Shenglong PV-Tech, is located in the center of the prosperous Yangtze Delta Region - Zhang Jia Gang City. The Company is a fast growing professional solar cell and module manufacturer and provider, which has established a vertically integrated solar value chain from silicon ingots, wafers, cells as well as solar modules. The Company's products are highly recognized by overseas customers due to their distinguished quality and stable conversion ratios. The products are mainly exported to European countries, such as Germany, with a stably increased customer base and market share. In the meantime, the Company is also actively developing emerging solar consumer markets such as Korea.

Source: Riemann Investment Holdings Ltd.