EQS Group-Ad-hoc: Phoenix Mecano AG / Key word(s): IPO 
First listing of a Swiss company on the Shanghai tech market 
 
23-Nov-2020 / 07:00 CET/CEST 
Release of an ad hoc announcement pursuant to Art. 53 KR 
The issuer is solely responsible for the content of this announcement. 
 
*Media release* 
 
Kloten/Stein am Rhein, 23 November 2020 - The Phoenix Mecano Group is 
planning a (partial) listing on the Shanghai Stock Exchange STAR Market, 
becoming the first Swiss company to make this move. On 1 January 2021, a 
separate business area will be created and spun off under the name 
DewertOkin Technology Group, with a view to a subsequent launch on the 
world's newest tech market. Phoenix Mecano intends to use the proceeds from 
the listing to raise fresh capital in order to expand its share of the 
fast-growing market for electrically adjustable furniture. 
 
The planned partial listing on the Shanghai STAR Market is a major milestone 
for Phoenix Mecano. "We deliberately chose Shanghai because the highly 
dynamic Chinese economy offers great potential for expanding our activities. 
A number of competitors have recently launched on the Shanghai Stock 
Exchange with great success or are planning to do so in the near future. 
DewertOkin Technology Group is already a global leader in parts of its 
target markets for smart, electrically adjustable furniture and is now ready 
to systematically capitalise on the available growth windows. A listing on 
the STAR Market will offer a lot of flexibility in the heavily regulated 
Chinese capital market and bolster our status as a technology company," says 
Benedikt A. Goldkamp, Executive Chairman of Phoenix Mecano's Board of 
Directors. 
 
Phoenix Mecano has been present in China since 1996 and has several 
well-established production sites in the country. The DewertOkin Technology 
Group business area develops and produces high-performance system solutions 
for ergonomic furniture for the home comfort sector, hospitals, nursing 
homes and offices. These include smart control systems, software, sensors, 
drive technology and kinematic fittings. The long-term growth of its target 
markets has accelerated again in the last three years and is now well into 
double digits. Over the next five years, Phoenix Mecano plans to invest 
around EUR 100 million in Jiaxing (greater Shanghai area) to expand its 
development and production capacity. This major expansion in China cannot be 
financed from existing cash flow without affecting the development of the 
Group's other business areas, which is why Phoenix Mecano is looking to 
launch on the Shanghai STAR Market in 2022. 
 
Phoenix Mecano's CEO Rochus Kobler says: "A real technology cluster is 
forming in that region, creating optimum conditions for growth. We're highly 
confident that we will benefit from this dynamic environment and that we can 
significantly strengthen our position as a provider of digital and 
integrated system solutions." 
 
*About Phoenix Mecano* 
The Phoenix Mecano Group is a global player in the enclosures and industrial 
components segments and is a leader in many markets. Headquartered in Stein 
am Rhein, Switzerland, the Group employs around 7,000 people worldwide and 
generated sales of &euro680 million in 2019. It is geared towards the 
professional and cost-effective manufacture of niche products and system 
solutions for customers in the mechanical engineering, measurement and 
control technology, medical technology, aerospace technology, alternative 
energy and home and hospital care sectors. Phoenix Mecano was founded in 
1975 and has been listed on the Swiss stock exchange since 1988. 
 
*For more information, please contact:* 
Phoenix Mecano Management 
Dr Rochus Kobler, CEO 
Lindenstrasse 23, CH-8302 Kloten 
Tel. +41 (0)43 255 4 255 
info@phoenix-mecano.com 
www.phoenix-mecano.com [1] 
 
End of ad hoc announcement 
Language:    English 
Company:     Phoenix Mecano AG 
             Hofwisenstrasse 6 
             8260 Stein am Rhein 
             Switzerland 
Phone:       +41 (0)43 255 4 255 
ISIN:        CH0002187810 
EQS News ID: 1149806 
 
End of Announcement EQS Group News Service 
 
1149806 23-Nov-2020 CET/CEST 
 
 
1: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=dab465a84f3b17eb8aba5c3f609d007b&application_id=1149806&site_id=vwd&application_name=news

(END) Dow Jones Newswires

November 23, 2020 01:01 ET (06:01 GMT)