- Placement of 920,000 of 2,000,000 offered new shares with investors
- Gross proceeds of 17.25 million Euro to be used to realise growth opportunities for residential properties with development potential on the outskirts of urban areas
Eschborn, June 27, 2017 – Noratis AG, a dynamically growing portfolio developer of residential real estate (“Noratis”), set today the placement price for shares offered as part of its IPO at 18.75 Euro 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 17.25 million Euro. Free float is 31.5 percent (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 44.6 million Euro in fiscal year 2016 and has grown at an annual average of 63 percent since 2014.
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 to be 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 is expected to be available free of charge on the internet at the website of the issuer www.noratis.de and during normal business hours at the issuer, on 19 June 2017.
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.
This publication is only addressed to and directed at persons in member states of the European Economic Area (other than Germany) who are “qualified investors” within the meaning of Article 2(1)(e) of the Prospectus Directive (Directive 2003/71/EC as amended) (“Qualified Investors”). In addition, in the United Kingdom, this publication is being distributed only to, and is directed only at, Qualified Investors who (i) are persons who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”), (ii) are high net worth entities falling within Articles 49(a) to (d) of the Order, or (iii) other persons to whom it may otherwise lawfully be communicated (all such persons together being referred to as “relevant persons”). Any investment or investment activity to which this publication relates is only available to and will only be engaged in with (i) in the United Kingdom, relevant persons, and (ii) in any member state of the European Economic Area other than the United Kingdom, Qualified Investors. Any other persons who receive this publication in the European Economic Area (other than Germany) should not rely on or act upon it.
This publication is not an offer of securities for sale in Canada, Japan or Australia.