Soon to float and could be rather interesting. not much to go on at the moment.

TGE Marine Engineering GmbH TME is a subsidiary company of TGE Gas Engineering GmbH - concentrating on gas and chemical carrier projects.

TMEs naval architects and marine engineers offer well thought-out design packages from feasibility study up to class approved design documents.

The scope of design services include all kinds of class required documents , as for example finite element, vibration and heat flow analysis for ships steel structure in combination with cargo tanks and compressor units, ship lines, hydrostatic and hydrodynamic evaluations, propulsion and machinery systems and outfitting documents.

Based on solid technical competence in combination with latest software releases, customers are provided with high quality documents and consultancy during the whole construction period.


For more information please contact Joerg.Bumann@tge.net


Project examples :
Epsilongas.pdf
Moritz_Schulte.pdf
Navigator.pdf

web site....

http://tractebel.taikonauten.de/26.0.html

Import /export terminals and storage facilities for liquefied gases

An increasing demand for clean fuels around the world necessitates the construction of export and receiving terminals for liquefied natural gas (LNG).

Further the strong market development of the plastic industry leads to increased demand for storage and transportation of petrochemical gases like ethylene and propylene.

TGE acts as engineering contractor for:

LNG import/ export terminals
LNG storage tanks
Ethylene storage and terminals
Cryogenic storage and terminals
Earth covered storage (ECT) for liquefied gases - pressurized storage
Spherical storage facilities for liquefied petrochemical gases - pressurized or semi-refrigerated storage


DYOR

Massive opening mark up on tiny volume, is this justifiable?

Tiny volume 'cos there is only a tiny volume issued:

"Placing price (per Ordinary Share) 130 (Not 130p)

Number of new and existing Ordinary Shares subject to the placing 516,604

Total gross proceeds of new and existing Ordinary Shares subject to the placing 67.16 million

Placing shares as a percentage of the enlarged issued share capital 42.44%

Number of Ordinary Shares in issue following admission 1,217,331

Market capitalisation following admission at the placing price 158.25 million

Net proceeds (approximate) of the placing receivable by the Company 21.30 million"

My guess is that these are going to be very difficult to trade.

Ful details and one to watch for the future...

May 15, 2008




TGE MARINE AG

('TGE', the 'Company' or the 'Group')




FIRST DAY OF DEALINGS ON AIM




TGE (LSE-AIM: TGE), a leading provider of engineering services for the design and construction of gas carriers and offshore units, today announces the placing of 516,604 ordinary shares with no par value ('Ordinary Shares') to new investors and the admission of the Company's Ordinary Shares to trading on the AIM Market of the London Stock Exchange ('AIM').




Kaupthing Singer & Friedlander Capital Markets Limited is acting as the Company's nominated adviser and broker in relation to the placing and admission.




Admission Details




Placing price (per Ordinary Share)
130

Number of new and existing Ordinary Shares subject to the placing
516,604

Total gross proceeds of new and existing Ordinary Shares subject to the placing
67.16 million

Placing shares as a percentage of the enlarged issued share capital
42.44%

Number of Ordinary Shares in issue following admission
1,217,331

Market capitalisation following admission at the placing price
158.25 million

Net proceeds (approximate) of the placing receivable by the Company
21.30 million





COMPANY BACKGROUND

TGE is a leading provider of engineering services for the design and construction of gas carriers and offshore units

The Group provides a turnkey solution for the engineering design, procurement and construction supervision of marine gas handling and storage systems as well as vessel designs

To date, the Group has supplied gas handling and storage systems for in excess of 100 gas carriers in more than 20 shipyards in Europe, Asia and South America. In particular, the Group has been active in China since 1989 and, to the Directors' knowledge, has acted as the engineering provider to every Chinese-built IGC compliant gas carrier delivered to date

For the year ended 30 June 2007, the Group's operations generated revenue of 82.3 million, reported profit before tax of continued operations of 9.9 million and adjusted PBT of 14.0 million(1)

(1) Adjusted PBT represents profit of continued operations before tax of 9.9 million, excluding finance costs of 2.0 million and amortisation of intangible assets of 2.1 million.




STRONG GROWTH PROSPECTS




TGE's growth prospects are derived from the following key sources:

strong forecast growth in ethylene and Liquid Petroleum Gas ('LPG') markets driving increased demand for smaller gas carriers;

higher scrapping rates for both ethylene and LPG carriers as the existing gas carrier fleet ages;

the growing rate of Chinese shipbuilding and TGE's unique position in that market; and

the rapidly developing Liquid Natural Gas ('LNG') markets, where demand for smaller carriers and floating LNG plants could offer transformational sales opportunities.

In addition, the current trading outlook for the Group is good with a number of key projects under way and a robust forward order book.




KEY STRENGTHS




The Directors believe the following to be the key strengths of the Group:




Long-established market leader

TGE is a world leading independent gas engineering contractor for the offshore handling and storage of cryogenic gases

Reciprocating relationships across the globe with key industry stakeholders - shipyards, ship owners and ship regulators

Delivering to the sophisticated operational needs of ship owners in a highly regulated industry whilst partnering with low cost shipyards based in Asia, particularly China

Breadth of product offering

TGE has sought to develop its services such that it can provide a complete package for any shipyard considering entering the gas carrier construction market

Sustainable, profitable business model

TGE's role is profitable because the opportunity for repeat engineering and the buying power of its specialised supply chain make it highly efficient

Experienced commercial and technical management team

TGE management has extensive experience in the offshore gas handling market, most of whom have worked in the industry for in excess of 10 years

Technical and regulatory entry barriers

Gas carriers are closely regulated and all participants in the supply chain must meet stringent specification standards

The Group's breadth of proprietary designs, depth of experience and proven ability to introduce new technology make it difficult for new entrants to participate

THE PLACING




The Company is raising approximately 21.30 million (26.96 million) net of expenses through the placing of 182,331 new Ordinary Shares in the Company, representing 14.98% of the issued ordinary share capital of the Company immediately following admission to AIM. It is the intention that the proceeds raised from the placing will be applied towards the repayment of an existing loan from Caledonia Investments plc (a significant shareholder in the Company).




In addition, due to the positive response to the issue and the desire for increased liquidity approximately 42.11 million (53.30 million) net of expenses has been raised on behalf of existing shareholders who have sold a portion of their interests through the placing of 334,273 existing Ordinary Shares in the Company, representing 27.46% of the issued ordinary share capital of the Company immediately following admission. The total shares in public hands immediately following admission amounts to 42.44%.




In respect of their remaining interests in the Company, the selling shareholders have also undertaken to the Company and Kaupthing that they will not sell or dispose of, except in certain limited circumstances any of their respective interests in Ordinary Shares at any time before the expiry of a period of six months (Directors: 12 months) following admission. In addition, the selling shareholders have undertaken that for a further period of six months (Directors: 12 months) they will only effect any sale of Ordinary Shares through the Company's broker.



Dr Manfred Ker, Chief Executive Officer of TGE, commented:




'We are very pleased with the response the IPO received from investors who were impressed with our market position in cryogenic gas carriers, and excited by the opportunities this presents us to participate in the developing offshore LNG market.




'TGE is a robust, profitable business, with good visibility of earnings, and direct exposure to gas infrastructure investment and Chinese shipbuilding. We have brought together a talented, highly specialised team of both engineers and technicians who are committed to maximising the opportunities that now present themselves.'




'To my mind, both technically and commercially, we have long been the leading gas engineering business in our market and I look forward to exploiting these strengths to the benefit of both our new and our old shareholders.'




Tim Cockroft, Head of Capital Markets at Kaupthing, commented:




'Kaupthing is delighted with the level of support from investors in TGE Marine AG, one of the largest floats on AIM so far this year, particularly given the challenges new issues are currently facing in these markets. The successful marketing effort is a reflection on the attractiveness of TGE's offering which has further benefited from Kaupthing's reach and distribution across the UK, Europe and US.'




Enquiries:




TGE Marine AG


+49 (0)228 604 480

Dr Manfred Ker
Chief Executive Officer



Roland Fisher
Chief Financial Officer

dyor.