Fenghua to make WSE debut

Upon entry onto the Frankfurt and Warsaw exchanges, Fenghua SoleTech will not increase the amount of free float shares, which will reach 10.7 percent. The company aims to become China's number one shoe sole producer, at the same time aiming to pay out dividends in the range of 10-20 percent of annual profits, as reported in an ISBnews release. The company will offer 1.2 million shares in their IPO. There will be only one issue of stock. The price per stock will oscillate around €10-12 and the currency equivalent in złotys should be announced in due time. "The share allocation will take place in Frankfurt and Warsaw on November 6," said DF Capital broker Jarosław Dąbrowski. Fenghua's profits reached €18.75 million in 2013, with revenue at €90.01 million.