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Steilmann SE: Steilmann SE announces IPO terms
DGAP-News: Steilmann SE / Key word(s): IPO
Steilmann SE: Steilmann SE announces IPO terms
12.10.2015 / 18:44
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Steilmann SE announces IPO terms
- Price range for Steilmann SE shares set at EUR 3.50 to EUR 5.00
- Offer period to start on 13 October 2015 and expected to end on 22
October 2015
- First day of trading on the regulated market (Prime Standard) of the
Frankfurt Stock Exchange is planned for 27 October 2015
- All newly issued shares originate from a capital increase
- Total offering size of EUR 83.1 million at the mid-point of the price
range, assuming full exercise of the greenshoe option
- Steilmann SE plans to use the net proceeds for acquisitions, expansion
of the distribution network and reduction of debt
Bergkamen, 12 October 2015 - Steilmann SE Group, one of the largest apparel
companies in Germany by revenue , has announced the terms of its initial
public offering (IPO). The company has set the price range for shares of
Steilmann SE at EUR 3.50 to EUR 5.00. The offer period will start on 13
October 2015 and is expected to end on 22 October 2015. The final offer
price will be determined on the basis of a bookbuilding process.
The offering consists of a public offering of the offer shares in the
Federal Republic of Germany and the Grand Duchy of Luxembourg and private
placements in certain jurisdictions outside of Germany, Luxembourg and the
United States of America. Outside the United States of America, the shares
are offered in accordance with Regulation S of the United States Securities
Act of 1933, as amended.
The offering comprises 17,000,000 newly issued ordinary bearer shares and
2,550,000 over-allotment shares.
Assuming the placement of all shares offered and full exercise of the
greenshoe option, approximately 49 percent of the company's post-IPO share
capital will be placed. Based on the mid-point of the price range, the
total gross proceeds are expected to amount to EUR 83.1 million including
full exercise of the greenshoe option and EUR 72.3 million excluding the
exercise of the greenshoe option.
The existing shareholder of Steilmann SE will not sell any shares in the
company in connection with the IPO. Steilmann SE will raise net proceeds
from the sale of new shares amounting to EUR 66 million based on the
mid-point of the price range (EUR 75.8 assuming full exercise of the
greenshoe option). The company will use the proceeds to fund acquisitions,
expansion of the distribution network and reduction of debt. Steilmann SE's
business model covers the entire vertical value chain in the apparel
- Offer period to start on 13 October 2015 and expected to end on 22
October 2015
- First day of trading on the regulated market (Prime Standard) of the
Frankfurt Stock Exchange is planned for 27 October 2015
- All newly issued shares originate from a capital increase
- Total offering size of EUR 83.1 million at the mid-point of the price
range, assuming full exercise of the greenshoe option
- Steilmann SE plans to use the net proceeds for acquisitions, expansion
of the distribution network and reduction of debt
Bergkamen, 12 October 2015 - Steilmann SE Group, one of the largest apparel
companies in Germany by revenue , has announced the terms of its initial
public offering (IPO). The company has set the price range for shares of
Steilmann SE at EUR 3.50 to EUR 5.00. The offer period will start on 13
October 2015 and is expected to end on 22 October 2015. The final offer
price will be determined on the basis of a bookbuilding process.
The offering consists of a public offering of the offer shares in the
Federal Republic of Germany and the Grand Duchy of Luxembourg and private
placements in certain jurisdictions outside of Germany, Luxembourg and the
United States of America. Outside the United States of America, the shares
are offered in accordance with Regulation S of the United States Securities
Act of 1933, as amended.
The offering comprises 17,000,000 newly issued ordinary bearer shares and
2,550,000 over-allotment shares.
Assuming the placement of all shares offered and full exercise of the
greenshoe option, approximately 49 percent of the company's post-IPO share
capital will be placed. Based on the mid-point of the price range, the
total gross proceeds are expected to amount to EUR 83.1 million including
full exercise of the greenshoe option and EUR 72.3 million excluding the
exercise of the greenshoe option.
The existing shareholder of Steilmann SE will not sell any shares in the
company in connection with the IPO. Steilmann SE will raise net proceeds
from the sale of new shares amounting to EUR 66 million based on the
mid-point of the price range (EUR 75.8 assuming full exercise of the
greenshoe option). The company will use the proceeds to fund acquisitions,
expansion of the distribution network and reduction of debt. Steilmann SE's
business model covers the entire vertical value chain in the apparel
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