Corporate | 25 June 2007 07:09
STEICO Aktiengesellschaft / IPO/IPO
Release of a Corporate News, transmitted by DGAP - a company of EquityStory
AG.
The issuer / publisher is solely responsible for the content of this announcement.
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- All of the 3,650,000 shares from the capital increase and 547,500
shares from an overallotment option (greenshoe) placed successfully
- Gross proceeds from the issue of € 73.5 million (incl. greenshoe)
to be used for further growth
- Offering oversubscribed by several times
Feldkirchen, June 25, 2007 – The shares offered as part of the IPO of
STEICO AG, the European market leader for wood-fiber insulation materials,
will be issued at an issuing price of € 17.50. This means that the issuing
price is at the upper end of the price range of € 14.50 - € 17.50. The
offer was oversubscribed several times. All of the 3,650,000 shares offered
from a capital increase and a further 547,500 shares from an overallotment
option (greenshoe) have thus been placed successfully. Assuming that the
greenshoe is conclusively exercised, the gross proceeds from the issue will
total € 73.5 million. STEICO AG wants to invest the funds from the IPO in
further, strong growth. STEICO AG’s IPO is being supported by HSBC Trinkaus
& Burkhardt AG as the lead manager and Baader Wertpapierhandelsbank AG.
The shares will already be included in trading today on the Frankfurt Stock
Exchange (Entry Standard) and Munich Stock Exchange (M:access) with the
German Securities Code number (WKN) A0LR93 (ISIN DE000A0LR936). If the
greenshoe is fully exercised during the four-week stabilization period, the
free float will increase to 32.8%. The remaining 67.2% of the shares will
continue to be held by the existing shareholder Schramek GmbH, which is
owned by Udo Schramek who is also STEICO AG’s CEO.
The allotment to private investors was in line with the 'Principles for the
Allotment of Share Issues to Private Investors'. Private investors received
approximately 3% of the offered shares. As a result of the strong demand,
German and European institutional investors received ca. 97% of the offered
shares. Approximately 2% of all offered shares were allocated to various
subscribers preferred by STEICO AG as part of a Friends & Family Program.
Members of the executive bodies, their related parties or companies held by
members of the executive bodies received almost 1% of the shares.
'We are absolutely delighted that our business model has met with such
positive feedback from investors in Germany and abroad! Now we want to
implement our growth targets and invest the proceeds from the issue, for
example in expanding our production capacity,' explained Udo Schramek,
STEICO AG’s CEO, who added: 'We also plan to further expand our position as
the European market leader for ecological wood-fiber insulating materials
via possible acquisitions – bolstering our position as a system provider.'
Company profile:
The STEICO Group’s core competence is developing, producing and selling
ecological building products based on renewable raw materials. The company
already leads the European market with a 35% share of the market for
wood-fiber insulation materials. STEICO is increasingly becoming
established as a system provider for ecological building materials with the
launch of I-joists as construction elements for timber-frame construction.
The insulation materials and I-joists have been mutually optimized, which
provides sustainable support. The increased use of NFBs (natural fiber
boards) produced in-house as I-joist components opens up additional growth
potential for STEICO as an integrated system provider. The STEICO Group was
the first manufacturer to receive the FSC® Certificate (Forest Stewardship
Council) for all of its wood-fiber insulation materials. In addition, most
of the range of insulation products is natureplus® certified. As a result,
the company is setting environmental standards – spanning the sustainable
use of forests, production and its end products. The company has operations
throughout Europe and currently has a total of around 850 employees. STEICO
AG’s headquarters in Feldkirchen, by Munich, are home to its operating
activities, which are at the top of the technological range, in addition to
its research and development department. The group has continued to
reinforce its sales activities in the United Kingdom by forming STEICO Ltd.
in Dartford by London in October 2006. The subsidiary STEICO S.A. produces
top-quality products using high-performance equipment at the two Polish
facilities in Czarnków and Czarna Woda, allowing the STEICO Group to
realize economies of scale and cost advantages. In the past, the STEICO
Group has recorded double-digit growth rates and in fiscal year 2006 it
recorded revenues of € 86.1 million and EBIT of € 9.0 million.
For further information, please visit www.steico.com.
Disclaimer:
Neither this press release nor the information contained therein constitute
an offer for sale in Germany or in any other country, nor do they
constitute a demand to purchase securities of STEICO AG, in particular if
this type of offer or demand is prohibited or not authorized. Potential
investors are requested to obtain information on any such restrictions and
to uphold these. A decision to invest in shares of STEICO AG must be made
based exclusively on the Offering Memorandum, which is published at
www.steico.com. This press release and the information included therein may
not be disseminated outside of Germany, in particular not in the United
States of America, to US Persons within the meaning of Regulation S of the
United States Securities Act of 1933 in the respective valid version or to
publications generally distributed in the United States. Any violation of
this restriction can constitute infringement of the securities regulations
in specific countries, in particular in the United States. Shares of STEICO
AG are not publicly offered for sale outside of Germany.
Contact:
STEICO AG
Andreas Schulze
Hans-Riedl-Straße 21
85622 Feldkirchen
Tel.: +49 (0)89 - 99 15 51-0
Fax: +49 (0)89 - 99 15 51-97
E-Mail: info@steico.com
Internet: www.steico.com
Investor Relations
cometis AG
Ulrich Wiehle
Tel.: +49 (0)611 - 20 58 55-11
Fax: +49 (0)611 - 20 58 55-66
E-Mail: wiehle@cometis.de
DGAP 25.06.2007
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Language: English
Issuer: STEICO Aktiengesellschaft
Hans-Riedl-Str. 21
85622 Feldkirchen Deutschland
Phone: +49 - (0)89 - 99 15 51 - 0
Fax: +49 - (0)89 - 99 15 51 - 99
E-mail: info@steico.com
Internet: http://www.steico.com
ISIN: DE000A0LR936
WKN: A0LR93
Indices:
Listed: Entry Standard in Frankfurt
Notierung vorgesehen / designated to be listed
End of News DGAP News-Service
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