The Frankfurt Stock Exchange saw the first-time listing of a Chinese company with Gongyou Machines Limited.
Gongyou’s shares have been included in exchange trading on the open market within the framework of a private placement of €4.5 million. Support during the issue came from lead manager TradeCross AG, a subsidiary of VEM Aktienbank AG, and lead broker RG Securities AG.
According to information provided by Gongyou, the company’s business activities focus largely on the production of wood-processing machinery and electric motors.
“We are proud to welcome Gongyou Machines as the Frankfurt Stock Exchange’s first listing from China,” said Rainer Riess, who is responsible for stock market business development at Deutsche Brse. “Because of favorable capital costs and high liquidity, Frankfurt provides international companies with excellent access to the European capital market. We hope that this positive signal will soon inspire even more Chinese companies to go public in Frankfurt.”