HONG KONG, Dec. 17 /PRNewswire-Asia/ -- SSCP Co., Ltd. (stock code: 071660) listed on the KOSDAQ, announced that its subsidiary, Schramm Holding AG ("Schramm"), is going to be listed on the Main Board of the Hong Kong Stock Exchange. Schramm is an innovative global manufacturer and supplier of a range of technical and specialty coatings, manufacturing a wide range of goods marketed by many household brands and other international leaders in their respective fields.
Schramm will offer a total of 5,000,000 shares globally. The public float will represent 25.12% of Schramm's expanded share capital issued.
The offer price range is HK$29.00 to HK$45.00 per share. The corresponding prospective pro forma P/E multiple for the year ended 31 December 2009 based on the offer price range is 10.7 to 16.6 times respectively.
The net proceeds from the share offer, after deducting related expenses, will be approximately between HK$118.4 million to HK$195.6 million, which will be mainly utilized for; the development of the Tianjin facility, the construction of a resin production plant in the PRC, future mergers and acquisitions and the expansion of the Germany facility.
Dealing for the shares will commence on 29 December 2009 on the Main Board of the HKEx with stock code 955. The sole global coordinator, bookrunner and lead manager is Samsung Securities (Asia) Limited.
Schramm currently focuses on selected specialty sectors which include automotive and general industry coatings, coil coatings and electrical insulation paints and varnishes. The automotive and general industry sector is further divided into automotive, mobile electronics as well as home appliances and consumer electronics. Schramm has plants in Offenbach (near Frankfurt in Germany), Barcelona in Spain, Thailand, and Shanghai, Huizhou and Tianjin in the PRC. Schramm has also established licensed manufacturing partnerships in Korea, Japan and the U.S. The combined production capacity is approximately 43,700 tonnes of coatings per year.
Capitalising on its competitive advantages, Schramm has achieved growth in both turnover and profit attributable to equity holders. For the year ended 31 December 2008, Schramm recorded turnover of approximately Euro93.61 million, representing a 32.7% increase over the year 2007, while profit attributable to equity holders rose 98.8% to approximately Euro5.78 million.
PR contact:
Ms. Eliza Li
Tel: +852-2232-3909
Email: eliza@prconcept.com
