Home / Knowledge / News / Apparel/Garments / FAST Casualwear to raise capital for second time in 2014
FAST Casualwear to raise capital for second time in 2014
31
Mar '14
With approval of the Supervisory Board of the company, the Management Board of FAST Casualwear AG has resolved on carrying out a second capital increase in the current financial year. 
 
The capital increase will be carried out against cash contribution using the authorized capital to issue 600,000 new shares at a par value of one Euro and at a price of EUR 1.60 per share. 
 
Once this capital increase as well as the capital increase of February 2014 have been registered in the trade register, the share capital will increase to EUR 13,300,000.00. The capital increase is carried out excluding the right of subscription of the shareholders and is subscribed solely by an unrelated individual investor. The new shares shall carry dividend rights for the financial year 2013.
 
FAST Casualwear plans to use the gross proceeds of the capital increase amounting to EUR 960,000 to support the overall working capital and to finance OEM orders of the company. Furthermore, the transaction will broaden the company’s shareholder base.
 
About FAST Casualwear AG
FAST Casualwear AG is the German holding company of FAST Group, a Chinese group of companies engaged in the design, production and sale of casualwear, consisting of footwear and apparel including accessories. It mainly designs and produces casualwear under its own brand name “FAST”, targeting consumers aged between 16 and 35 primarily in the lower tier cities in China. FAST distributes its own brand products through 28 unaffiliated regional distributors, who sell the products via retail outlets operated either by themselves or by third party sub-distributors. 
 

FAST Casualwear

Must ReadView All

Textiles | On 25th Jul 2016

Cotton prices unlikely to fall in near future

Notwithstanding the Union Ministry of Textile’s direction to the...

Textiles | On 25th Jul 2016

China imposes anti-dumping duties on acrylic fibres

China’s ministry of commerce (MOFCOM) has announced imposition of...

Courtesy: Industrial Parks Development Corporation, Ethiopia and Ethiopian News Agency

Apparel/Garments | On 25th Jul 2016

30k workforce to be trained for Hawassa Industrial Park

An agreement has been signed to source, recruit and train 30,000...

Interviews View All

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
june 2016

F2F Magazine

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search