Publication of inside information in accordance with Article 17 MAR
Eschborn, 27 June 2017, 10:30 CET/CEST – Today, the Management Board of Noratis AG, a portfolio developer of residential real estate (ISIN: DE000A2E4MK4, WKN: A2E4MK), with the consent of the Supervisory Board, decided to carry out a capital increase in the amount of 920,000.00 Euro as implementation of the capital increase by up to 2,000,000.00 Euro resolved as part of an IPO by issuing 920,000 new bearer shares with no par value against cash contributions. The placement price was set at 18.75 Euro per share in consultation with ICF BANK AG as the Sole Global Coordinator and Sole Bookrunner.
Furthermore, 80,000 existing shares held by existing shareholders Norlig GmbH and SIA Hansahold have been placed as part of the over-allotment option granted to ICF BANK AG. The shares of the over-allotment option may be repurchased for stabilisation purposes during the stabilisation period.
Gross issue proceeds including the placed over-allotment option amount to around 18.75 Euro million. The company plans to use the gross proceeds attributable to the company in the amount of approximately 17.25 million Euro primarily to further finance its growth by utilising real estate purchase opportunities with greater flexibility.
As a result of the capital increase against cash contributions, the share capital of Noratis AG will increase from 2,000,000.00 Euro by 920,000.00 Euro to 2,920,000.00 Euro. The capital increase is expected to be registered on June 29, 2017. Free float is about 31.5 percent (excl. greenshoe option).
The listing of the shares of Noratis AG in the Scale Segment of the Frankfurt Stock Exchange Open Market takes place on June 30, 2017. The delivery of the allotted shares is also scheduled for June 30, 2017.
— End of the ad-hoc announcement —
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 44.6 million Euro in fiscal year 2016 and has grown at an annual average of 63 percent since 2014.
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