DGAP-News: Noratis AG: Portfolio developer of residential properties places shares at EUR 18.75 each
DGAP-News: Noratis AG / Key word(s): IPO/Capital Increase
Noratis AG: Portfolio developer of residential properties places shares at EUR 18.75 each
27.06.2017 / 22:31
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Noratis AG: Portfolio developer of residential properties places shares at EUR 18.75 each
- Placement of 920,000 of 2,000,000 offered new shares with investors
- Gross proceeds of EUR 17.25 million to be used to realize growth opportunities for residential properties with development potential on the outskirts of urban areasEschborn, June 27, 2017 - Noratis AG (www.noratis.de), a dynamically growing portfolio developer of residential real estate ("Noratis"), set today the placement price for shares offered as part of its IPO at EUR 18.75 per share. In total, 920,000 of the offered 2,000,000 new shares were placed with investors. A corresponding capital increase was decided today by the company. Gross proceeds are EUR 17.25 million. Free float is 31.5% (excl. greenshoe option).
Igor Christian Bugarski, CEO of Noratis AG, explains, "Our move to the stock market is of great strategic importance for the further development of the company. Direct access to the capital market gives us additional financial leeway to make effective use of the numerous market opportunities over the coming years. We also want to increase awareness of our attractive business model by raising public attention. Even if not all offered shares could be placed, the generated revenues will enable us to pursue our further growth. With the proceeds, we can gradually expand our real estate portfolio in the coming months."
"Our growth in 2017 and 2018 will be decisively driven by already existing projects. Now it is important to focus on the operational business. Through continuous and transparent communication, we want to gain the trust of capital market participants in the long term," added André Speth, CFO.Noratis AG (www.noratis.de) is a dynamically growing portfolio developer of residential real estate located in Eschborn near Frankfurt. The company purchases properties with development potential across Germany, mostly housing estates, employee housing and quarters from the 1950s to 1970s in cities with more than 10,000 inhabitants or on the outskirts of urban areas. After acquisition, Noratis performs an intensive value enhancement of the properties and subsequently sells them in block sales or individually as condominiums. Thereby Noratis offers housing with an attractive price/performance ratio for tenants with medium and small incomes. Since only 2014, Noratis has successfully completed 14 projects with more than 1,300 residential units. The company generated revenues of EUR 44.6 million in fiscal year 2016 and has grown at an annual average of 63% since 2014.Contact Investor Relations:
cometis AG
Philipp Oksche
Unter den Eichen 7
65195 Wiesbaden
Germany
Tel. +49 (0) 611 20 585 5 35
E-mail: oksche@cometis.de
Disclaimer
This publication constitutes neither an offer to sell nor a solicitation to buy or subscribe to securities. Any such offer will be made solely on the basis of the securities prospectus published as approved by the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin). The information legally required to be provided to investors is contained only in the securities prospectus. The securities prospectus dated 19 June 2017 is available free of charge on the internet at the website of the issuer www.noratis.de and during normal business hours at the issuer.
The information contained herein is not for distribution, directly or indirectly, in or into the United States of America (including its territories and possessions of any State of the United States of America or the District of Columbia) and must not be distributed to U.S. persons (as defined in Regulation S of the U.S. Securities Act of 1933, as amended ("Securities Act")) or publications with a general circulation in the United States of America. This publication constitutes neither an offer to sell nor a solicitation to buy or subscribe to securities in the United States of America. The securities have not been and will not be registered under the Securities Act and may not be offered or sold in the United States of America absent of registration, unless there is an exemption from registration under the Securities Act. The issuer does not intend to register any portion of the offering in the United States of America or to conduct a public offering of the securities in the United States of America.
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27.06.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
Language:
English
Company:
Noratis AG
Hauptstraße 129
65760 Eschborn
Germany
Phone:
+49 (0) 69 / 170 77 68 20
E-mail:
info@noratis.de
Internet:
www.noratis.de
ISIN:
DE000A2E4MK4
WKN:
A2E4MK
Listed:
Open Market (Scale) in Frankfurt
Notierung vorgesehen / Intended to be listed
End of News
DGAP News Service
586917 27.06.2017