Corporate | 1 August 2012 11:00
Weng Fine Art AG / Key word(s): Capital Increase
01.08.2012 / 11:00
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PRESS RELEASE | 1 AUGUST 2012
Weng Fine Art AG completes successful capital increase: Proceeds of EUR 3.1
million create financial prerequisites for further growth
Weng Fine Art AG (WFA) has successfully completed its first capital
increase: 14 private investors took on a total of 50,000 new shares in the
company (as part of the authorised capital), which had been offered at the
price of EUR 62.00 per share. Subscriptions for a total of 78,000 shares
were submitted. The company, an art dealership listed on the stock market
since the beginning of 2012, is hoping to use the proceeds of EUR 3,100,000
primarily as a base for external growth along the value chain - next year,
several investments and acquisitions are being planned in the auction and
edition business.
The capital increase raises the company's share capital to EUR 550,000 with
the majority shareholder remaining the company's founder and sole director
Rüdiger K. Weng, who acquired a further 10,000 shares under the scheme
through his holding RKW Art + Asset Management GmbH, still controlling 75.2
percent of the shares outstanding. The new shares issued will first be
traded the day after the company's shareholders' meeting on 24 September in
Krefeld.
'We are pleased to have added a number of new long-term private investors
to our pool of shareholders,' commented WFA director Rüdiger K. Weng on the
successful offer, which was organised by the company itself and therefore
did not create bank or commission charges.
ABOUT WENG FINE ART AG
Weng Fine Art AG (www.wengfineart.com) is one of the fastest-growing,
internationally active art traders on the European continent. The company
uses a B2B model, focusing on trading more than 500 blue chip art- ists
from the 20th century. Important clients are, beside others, Sotheby's,
Christie's and Phillips. The retail market is served by its 100% subsidiary
Weng Fine Art Editions GmbH that offers worldwide on various plat- forms,
multiple works of art by some of the most important contemporary artists.
Weng Fine Art AG shares are traded on the Frankfurt Stock Exchange (Entry
Standard) since 2 January 2012.
CONTACT DETAILS
Weng Fine Art AG
Rüdiger K. Weng, CEO
Kimplerstrasse 294 | D-47807 Krefeld
Telephone +49(0)2151 93713-0 | Fax+49(0)2151 93713-29
E-mail weng@wengfineart.com | Internet www.wengfineart.com
End of Corporate News
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Language: English
Company: Weng Fine Art AG
Kimplerstraße 294
47807 Krefeld
Germany
Phone: 02151 937130
Fax: 02151 93713-29
E-mail: art@wengfineart.com
Internet: www.wengfineart.com
ISIN: DE0005181606
WKN: 518160
Listed: Open Market (Entry Standard) in Frankfurt
End of News DGAP News-Service
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