Post Time：Nov 23,2010Classify:Industry NewsView：693
FRANKFURT -(Dow Jones)- China Specialty Glass AG, the German holding company of China-based CSG Group, is planning to raise up to EUR100 million this year with an initial public offering on the Prime Standard of the Frankfurt Stock Exchange, the company said Monday.
The approval process for the share prospectus is at an advanced stage, the company said.
China Specialty Glass, which specializes in security glass, said it plans to use proceeds from the IPO to finance a new production site, modernize and expand existing production facilities, establish a research and development center and finance its further market expansion and regular operations.
The transaction's sole coordinator and bookrunner will be Viscardi AG.
The company's revenues for the first nine months of 2010 rose 45% to EUR49.9 million, and net income rose 66% to EUR15.7 million, the company reported Nov. 15.
-By Ruediger Schoss, Dow Jones Newswires; +49 69 29725 500; djnews.frankfurt@ dowjones.com
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Source: http://www.nasdaq.com/aspx/stock-market-news-storyAuthor: shangyi
