Aessel

JSC TPG AESSEL - one of the first companies in the Russian market which implemented at themselves on production the Sirtek system (Italy) - the advanced up-to-date technology for gain of thermomoulded articles from acrylic or ABS plastic (bathtubs and pallets) using environmentally friendly structure on the basis of polyurethane foam. At the same time results of work of special division of Research and Development allow the company not only to make a wide range of products, but also to quickly develop, adapt and release the new types of goods considering the shifts in demand in the market and also features of consumer behavior and consumer expectations.

On November 12, 2013 in the sector "Market of innovations and investments" (RII) of the Moscow Exchange initial public offering (IPO) of JSC AESSEL Commercial and Industrial Group took place. Within the IPO investors acquired 3 million ordinary shares of JSC TPG AESSEL that corresponds to 30% of capital stock of the company. Public placement was carried out at the fixed price – 69 rub for one ordinary share. Thus, the amount of placement was 207 million rubles, and market capitalization of JSC TPG AESSEL – 690 million rubles. FINAM Investment Company Ltd acted as the organizer of the IPO.

By estimates of analysts of IC FINAM, fair value of equity of JSC TPG AESSEL makes 1137 million rubles (113.8 rub for an action) for the end of 2014 that assumes the 65% potential of growth of quotations to the placement price. Implementation of upside will be promoted by the leading positions of the company in the Russian market of plumbing fixtures, work of the issuer in the perspective growing market, high operational efficiency and the thought-over development strategy.

The main amount of stocks of JSC TPG AESSEL within a public offer was redeemed by retail investors. It should be noted that the limited scope of the offer did not allow to satisfy considerable interest in the IPO from institutional investors, and at the moment management of the company conducts negotiations with a number of investment funds of rather possible sale in the medium term of an additional share block of the company in curb market.

The decision on registration of the securities prospectus of JSC TPG AESSEL was approved by Interregional management of Service of the Bank of Russia on financial markets in Central Federal District 9/26/2013 the State registration number of issue of securities: 1-01-14863-A of 1/31/2012. The number of securities of release – 10000000, nominal value – 1.5 rub, the total amount of release (on nominal value) – 15000000 rub. The trade code of the issuer – AESL. The bid book on purchase of shares of JSC TPG AESSEL was open during the period from October 30 to November 11, 2013.

The money raised by JSC TPG AESSEL during the IPO at the Moscow Exchange will be directed to financing of a medium-term investment program of the company. In particular, the development strategy of JSC TPG AESSEL assumes gain of a brand and promotion of products on the Internet, implementation of the medium-term business development strategy providing expansion of regional presence (including dealer network). At the same time one of the most important elements of the development strategy is the upgrade of a production equipment which is carried out by JSC TPG AESSEL that will allow to increase product competitiveness of the plant and to expand an assortment row. Thanks to consecutive implementation of the approved business strategy, the group shows high growth rates of sales: according to forecasts of management, at the end of 2014 revenue of JSC TPG AESSEL will exceed 500 million rubles, and in 2017 – 1.5 billion rubles at regulation of gross margin not less than 30%.