DGAP-News

Mutares: Portfolio company Nordec Group Corporation is planning an IPO on the Finnish Nasdaq First North Growth Market - Seite 2

The Offering is expected to consist of both a new share issue by the Company and a share sale by the shareholder of the Company, a wholly-owned subsidiary of Mutares, Donges SteelTec GmbH ("Donges"). The current shareholding of the present sole shareholder Donges is expected to decrease to below 50% as a result of the IPO.

Nordec aims to raise gross proceeds of approximately EUR 7 million by offering new shares for subscription. The Company expects to use the net proceeds from the Share Issue to facilitate the implementation of Nordec's strategic growth objectives and to increase the efficiency of Nordec's operations and production.

Certain cornerstone investors have each separately, subject to certain terms and conditions, undertaken to participate in the contemplated Offering and to subscribe for shares at the final subscription price for a total of not less than EUR 19.5 million.

In connection with the contemplated Offering, Nordec will prepare a prospectus, which will contain the terms and conditions of the Offering and instructions related to participating in the Offering. Should the Company decide to proceed with the Offering, the prospectus will be published on the Company’s website at www.nordec.com.

“The robust business model, the successful integration as well as the strong outlook on growth and profitability for Nordec is an excellent opportunity to consider a listing in the home market of the Company,” says Johannes Laumann, CIO of Mutares.

Company profile Mutares SE & Co. KGaA

Mutares SE & Co. KGaA, Munich (www.mutares.de), as a listed private equity holding company with offices in Munich (HQ), Amsterdam, Frankfurt, Helsinki, London, Madrid, Milan, Paris, Stockholm and Vienna, acquires medium-sized companies in special situations, based in Europe, which show significant operational improvement potential and are sold again after undergoing a repositioning and stabilization process. For the financial year 2022, consolidated revenues of at least EUR 4 billion are expected. Based on this, consolidated revenues are to be expanded to at least EUR 7 billion by 2025. As the portfolio grows, so do consulting revenues, which together with portfolio dividends and exit proceeds accrue to the Mutares Holding. Accordingly, a net profit in the holding company in the range of EUR 125 million to EUR 150 million is expected for the financial year 2025. The Management Board and Supervisory Board together hold more than one third of all Mutares shares with voting rights. The shares of Mutares SE & Co. KGaA are traded on the Regulated Market of the Frankfurt Stock Exchange under the symbol "MUX" (ISIN: DE000A2NB650).