CMS Hasche Sigle Advises ZhongDe Waste Technology AG on the First Chinese Prime Standard IPO on the German Stock Exchange

CMS Hasche Sigle Advises ZhongDe Waste Technology AG on the First Chinese Prime Standard IPO on the German Stock Exchange

July 10, 2007

    SHANGHAI, China, July 6 /Xinhua-PRNewswire/ -- As of
today ZhongDe Waste Technology AG (with its subsidiaries
"ZhongDe Group") will be traded on the Prime
Standard at the Frankfurt Stock Exchange as the holding
company of a company which operates solely in China. This
was the first public offering in Germany of shares in a
company which operates in China and the first indirect
listing in the highly regulated Prime Standard of the
German Stock Exchange. The ZhongDe Group is a leading
manufacturer of waste incineration plants for clinical and
household waste in China. Since 1996 it has sold over 170
waste incineration plants to customers in 13 provinces
throughout China, 112 of which were sold in the last three
business years alone. The domicile of the holding, which
manages the business in China, is Hamburg.

    Including the Greenshoe options up to 4,185,264 no-par
value ordinary bearer shares have been offered for sale by
way of a public offering in Germany and Luxembourg and by
way of private placements to institutional investors
outside Germany, Luxembourg and the USA. Of these up to 3
million shares stem from a capital increase and up to
639,360 from shares held by various selling shareholders.
Up to 545,904 further shares were earmarked for a Greenshoe
option. At EUR 26 per share the placement price was at the
upper end of the price range of EUR 23-26.

    ZhongDe's IPO heralds a new direction for Chinese
investments abroad and underlines the importance of the
Frankfurt Stock Exchange and the procedural and cost
advantages in direct competition to other major stock
exchanges, such as London and New York. Historically, most
Chinese companies have sought listings on US exchanges, but
especially for medium-sized firms an IPO in the US is now
often perceived to be too costly. Being Europe's biggest
market, Germany presents itself as an attractive
alternative for Chinese companies planning to go public on
a stock exchange outside China. Frankfurt offers Chinese
companies an excellent entry point to the European capital
market through its low capital costs and high liquidity. It
is expected that quite a number of Chinese companies will
list on the Frankfurt Stock Exchange in the coming months.

    An experienced team of lawyers from CMS Hasche Sigle
operating in close cooperation with the CMS office in
Shanghai acted as issuer's counsel, providing ZhongDe Waste
Technology with comprehensive advice on the IPO. The team
drafted the prospectus in English and handled the BaFin
clearance procedure.

    Sal Oppenheim jr. & Cie. KGaA was the global
coordinator and sole bookrunner and was advised by Dewey
Ballantine acting as underwriters' counsel. Sal. Oppenheim
and the Bank of China International acted as joint lead
managers for the IPO with CLSA Asia-Pacific Markets as
co-lead manager. The selling agents were Bayerische
Landesbank, comdirect bank AG and DAB bank AG.

    Advisers to ZhongDe Waste Technology AG
    CMS Hasche Sigle

    Dr Henrik Drinkuth, partner, Hamburg (Capital Markets
and Stock
     Corporation Law, Lead Partner)
    Dr Andreas Zanner, partner, Frankfurt, (Capital Markets
and Stock
     Corporation Law, Lead Partner)
    Dr Ulrike Gluck, partner, Shanghai (Chinese Law)
    Dr Martin Kniehase, Frankfurt (Capital Markets)
    Holger Hirschberg, Frankfurt (Capital Markets)
    Dr Rupert Doehner, Frankfurt (Stock Corporation Law)
    Benjamin Kroymann, Frankfurt (Chinese Law)
    Dr Hilke Herchen, Hamburg (Stock Corporation Law)
    Jeanette Yu, Shanghai (Chinese Law)
    Karen Wang, Shanghai (Chinese Law)
    Kevin Wang, Shanghai (Chinese Law)
    David Yuan, Shanghai (Chinese Law)
    Dr Falk Lichtenstein, Shanghai (Chinese Law)
    Ann Chen, Shanghai (Chinese Law)

    About CMS Hasche Sigle:

    CMS Hasche Sigle is one of the leading German law firms
with more than 480 lawyers. It covers the entire area of
commercial law and provides legal advice to major German
and international companies from a wide spectrum of
industry. It has offices in Berlin, Cologne, Duesseldorf,
Frankfurt, Hamburg, Leipzig, Munich, Stuttgart, Chemnitz,
Dresden, Brussels, Belgrade, Moscow and Shanghai.

    CMS Hasche Sigle is a partnership of lawyers and tax
consultants; for register details / list of partners see
http://www.cms-hs.com 

    CMS Hasche Sigle is a member of CMS, an alliance of
leading independent European law firms. With over 595
partners, a total of 2,000 lawyers and tax consultants and
around 4,200 support staff we advise our clients at
commercial locations in 48 business centres in Europe and
further afield on legal and tax issues.

    In addition to CMS Hasche Sigle, the following firms
are also members of the CMS alliance: CMS Adonnino Ascoli
& Cavasola Scamoni (Italy), CMS Albinana & Suarez
de Lezo (Spain), CMS Bureau Francis Lefebvre (France), CMS
Cameron McKenna LLP (Great Britain), CMS DeBacker
(Belgium), CMS Derks Star Busmann (the Netherlands), CMS
von Erlach Henrici (Switzerland) and CMS Reich-Rohrwig
Hainz (Austria). CMS has 58 offices in 25 countries around
the world. 

    For further information on CMS Hasche Sigle see
http://www.cms-hs.com and on the CMS alliance see
http://www.cmslegal.com .






    For more information, please contact:

    Contact CMS Hasche Sigle:

     Dr Henrik Drinkuth
     Tel:   [phone]
     Email: [e-mail]

     Dr Andreas Zanner
     Tel:   [phone]
     Email: [e-mail]

     Elmar Salinger, press and public relations
     Tel:   [phone]
     Email: [e-mail]