Riemann Investment Assisted ZhongDe Waste Technology AG to Successfully Float on German Main Board Market

In Beijing time 6 July, as the sole financial consultant and pre-IPO investor, Shanghai Riemann Investment Advisory Ltd. successfully planned and hosted the initial trading of Zhongde Waste Technology AG on the Prime Standard of Frankfurt Stock Exchange in Germany. This is the first Chinese company listed on the Frankfurt Stock Exchange. The ticker symbol is ZEF.

Zhongde Waste Technology AG offers 32.19% of shares for public trading. Its twenty-three times of P/E ratio (based on the net profit of 2007) raises EURO$ 0.1088 billion (US$ 0.148 billion). ZEF shares have a subscription price of EURO$ 26 and an opening price of EURO$ 30,which is 15% higher than the subscription price.The closing price of the initial trading day is EURO$ 31.5. The total trading volume on the day is 1.35 million shares with a rate of increase of 21%.

In the international roadshow, the European capitalist market has hown great interest in the first Chinese shares on the Prime Standard. The investors are keen to participate in the IPO and the shares are fourteen times oversubscribed. The shares also attract the interests from famous institutional investors in the world,such as HSBC, Allianz Group, Baring Asset Management, Pictet, Value Partners, Invesco, Och-Ziff Capital Management (London), etc.
Zhongde Waste Technology AG was established in Hamburg and it develops the main business in China.Its wholly-owned subsidiary, Fujian Fengquan Environmental Protection Equipment Ltd., is the largest developer of incineration for medium and small sized wastes and the manufacturer of equipments in China.

As the financial consultant, during the IPO process, Riemann Investment assisted the company to implement restructuring and build a modern management system, especially for the financial management and internal system; to restructure the numerous business activities of the company and clarify its business pattern, so as to make its competitiveness prominent; to coordinate the local and overseas intermediates.Riemann Investment has finished the IPO process in only seventy days. Ms Huang Qianping, the Executive Director of Riemann Investment, hosted the international roadshow and was highly praised. The shares attract keen oversubscription which is rare in the European market over twenty years.

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