News blog
Asia Ceramics Holdings
- BY: Andrew Hore |
- POSTED: 06/09/2010 |
- COMMENTS: Add yours
Asia Ceramics Holdings went to a significant premium on its first day of trading on Aim.
The placing price was 66p a share and the shares opened at 70.5p. They closed at 80.5p each, the high for the day. The market value increased from £6.81m to £8.3m.
The company, which will sell ceramic wall and floor tiles, sanitary ware and other home improvement products to the domestic Chinese market, raised £1.2m at 66p a share in August. The expenses of the flotation were £510,000. The pro forma net asset value of the company is £735,000 – which is cash net of a £500,000 loan from chief executive and 73.4% shareholder Dr Dingxin Pu and other creditors.
Asia Ceramics is based in Foshan City, Guangdong Province in China. Foshan is the eleventh largest city in China and the focus of the Chinese ceramics industry. The company’s first retail outlet was opened in the city in July 2010 and this was followed by a showroom in Hong Kong. Late next year, Asia Ceramics will also start to open franchise stores. The franchisee will pay a monthly management fee based on sales.
Dr Pu is experienced in exporting ceramics but has little experience of the Chinese domestic market. Asia Cermaics has been set up totally separately from Dr Pu’s export company in order to tackle the domestic market. His other company will allow Asia Ceramics to use its brands Louis Valentino, Bally and Baitao in the domestic market.
In 2003, China accounted for 45% of the world market for ceramic wall and floor tiles.
© 2007 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
- 2.4mNumber of messages posted on SocialGo networks
- $38mCost savings generated by ideas from WalMart staff over a two month period
- 19.4m
Number of people passing through Johannesburg Airport in 2007
- News Blog
- All micro news
Synchronica
Mobile messaging technology provider Synchronica, which is the subject of a contested, all-share bid from rival Myriad AG, has signed a letter of intent with TSX Venture Exchange-quoted Intertainment Media.
DCD Media
AIM-quoted Timeweave has bought convertible loan notes in DCD Media that can convert into a 29.9% stake in the TV programmes producer.
James Cropper
Paper and speciality fibres manufacturer James Cropper is investing $3m in a new manufacturing facility in New York State.
TEG Group
Peter Gyllenhammar has taken his stake in TEG Group to 3.2% following the purchase of 500,000 shares.
- Browse by issue
- All issues
- Popular tags
- All tags
- AIM Micro feeds
Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds
|