DGAP-News: CHORUS Clean Energy AG / Key word(s): IPO
CHORUS Clean Energy AG launches IPO
24.09.2015 / 08:21
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THE INFORMATION CONTAINED IN THIS RELEASE IS NOT FOR DISTRIBUTION OR
DISSEMINATION TO OR WITHIN THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA
OR JAPAN.
PRESS RELEASE
CHORUS Clean Energy AG launches IPO
- Price range set between EUR 9.75 and EUR 12.50 per share
- Offer period begins on 25 September and is expected to end on 02
October 2015
- Trading of shares on the regulated market segment (Prime Standard) of
Frankfurt Stock Exchange is planned to start on 07 October 2015
- Issue proceeds will be used to finance further growth
- Prospectus is expected to be approved and published today
Neubiberg/Munich, 24 September 2015 - CHORUS Clean Energy AG ("CHORUS" or
"Company"), based in Neubiberg near Munich, a company specializing in the
operation of solar and wind power plants, resumes its plan of an IPO. The
Company seeks to list its shares on the regulated market (Prime Standard)
of the Frankfurt Stock Exchange. Depending on the further development of
the market environment, the first day of trading is planned for 07 October
2015.
The Company has set the price range for the offered shares at EUR 9.75 to
EUR 12.50 per share. The offer period begins on 25 September 2015 and is
expected to end on 02 October 2015. The final offer price will be
determined on the basis of a bookbuilding process at the end of the offer
period.
Based on the existing shareholders' resolution regarding the capital
increase, the offer comprises up to 12,000,000 new shares, however,
corresponding to the targeted offering proceeds from the capital increase
of around EUR 100 million and in light of the price range, 8.0 million to
10.3 million new shares are expected to be issued.
Furthermore, the offer comprises up to 914,058 shares from the holdings of
existing individual shareholders and a potential over-allotment of up to
1,937,108 additional shares from existing shareholders. In connection with
the over-allotment, the Company has granted the banks involved the option
to subscribe and purchase up to 1,937,108 additional new shares of the
Company in order to use these to return the shares underlying the
over-allotment ('greenshoe option') to existing shareholders. Assuming that
the greenshoe option is fully exercised, the total gross proceeds of the
offering therefore are expected to reach up to around EUR 125 million on
the basis of the mid point of the price range.
All offered shares carry dividends as of 01 January 2015.
The shares will be offered publicly in Germany and Austria, as well as in
private placements in certain jurisdictions outside of Germany and Austria
and outside of the United States of America.
The shares are to be traded on the regulated market (Prime Standard) of the
Frankfurt Stock Exchange on 07 October 2015.
If all shares from the offering are placed (including issuing additional
shares in case the greenshoe option is fully exercised), CHORUS would have
a free float of around 86 percent of the share capital. Both the founders
and the management are committed to an 18 months lock-up period of their
shares after commencement of trading. Furthermore, the Company will not
issue or sell any further shares for a period of six months after
commencement of trading.
"We are pleased to resume the planned IPO of CHORUS today. We received the
needed tailwind from the positive feedback of national and international
investors as well as our successful business development. The proceeds of
the IPO will be used to implement our growth plans and to finance
additional solar and wind parks. We can revert to our project pipeline with
power plants of more than 800 megawatts in core European countries.
Furthermore we will use the proceeds to expand our service portfolio in the
field of asset management", states Holger Götze, CEO of CHORUS Clean Energy
AG.
Berenberg supports the IPO as Sole Global Coordinator and will act together
with BHF-BANK as Joint Bookrunner.
The securities prospectus is expected to be approved by the German Federal
Financial Supervisory Authority (BaFin) today and to be available in the
section 'Investor Relations' of the company website for download.
The business model combines reliable revenues from renewable energy plants
with a wide range of services for institutional investors
CHORUS is an independent operator of solar and wind parks, as well as a
full service provider for investments in renewable energy. In recent years,
the Company has realized investments in 67 solar and wind parks in Germany,
Italy, France, Austria and Finland with a total investment volume of
approximately EUR 673 million. CHORUS currently operates a diversified
portfolio of photovoltaic and wind power plants, with a total capacity of
over 250 megawatts. This portfolio generates stable and predictable
revenues that are independent of economic cycles, thus leading to
sustainable cash flows for CHORUS and its asset management clients.
With the CHORUS Infrastructure Fund S.A. SICAV-SIF, a regulated specialized
investment fund under Luxembourg law, professional investors can also
participate in a diversified portfolio of renewable energy plants.
Alternatively, CHORUS is assembling, based on individual requirements,
customized target portfolios of renewable energy plants under its 'Tailored
Investment Solutions' service for its clients and optimizes the required
investment structure. The Company then takes over the operational
management of the plants.
About the CHORUS Group
CHORUS Group was founded in 1998 and operates solar and wind parks in five
European countries. To date, investments in 67 solar and wind parks with an
output of more than 250 megawatts have been realized. For institutional
investors, CHORUS also offers investment opportunities in renewable energy
plants. CHORUS Clean Energy AG covers the entire investment cycle - from
sourcing of assets through financial and legal due diligence to monitoring
and divestiture.
Contact:
Stephan Castenholz
CHORUS Clean Energy AG
Tel.: +49 (0) 89 / 442 30 60 - 0
Fax: +49 (0) 89 / 442 30 60 - 11
E-mail: s.castenholz@chorus.de
Andreas Friedemann
Kirchhoff Consult AG
Tel.: + 49 (0) 40 / 60 91 86 - 50
Fax: + 49 (0) 40 / 60 91 86 - 60
E-mail: andreas.friedemann@kirchhoff.de
Disclaimer
This release is for informational purposes only and does not constitute an
offer to sell or a solicitation of an offer to buy any securities of the
Company. The offer will be made solely by means of, and on the basis of, a
securities prospectus to be approved by the German Financial Supervisory
Authority (Bundesanstalt für Finanzdienstleistungsaufsicht). After the
approval the securities prospectus will be available free of charge at
CHORUS Clean Energy AG, Prof.-Messerschmitt-Str. 3, 85579 Neubiberg,
Germany (the "Company"), or on its website under www.chorus.de. An
investment decision regarding the publicly offered securities of the
Company should only be made on the basis of the securities prospectus.
This release is not meant for publication in the United States of America
and does not constitute an offer in the United States of America,
Australia, Canada, Japan or any other jurisdiction, which prohibits an
offer of securities. The securities of the Company may not be offered or
sold in the United States absent registration or an exemption from
registration under the U.S. Securities Act of 1933, as amended (the
"Securities Act"). The securities of CHORUS Clean Energy AG have not been,
and will not be, registered under the Securities Act or the laws of any US
federal state and will not be sold or offered for sale in in the United
States.
This release is only directed at persons who (i) are outside the United
Kingdom, or (ii) have professional experience with investments and fall
within the definition of "investment professionals" under Article 19(5) of
the Financial Services and Markets Act 2000 (Financial Promotion) Order
2005 (as amended) (the "Order") or (iii) are persons falling within Article
49(2)(a) to (d) of the Order (high net worth companies, unincorporated
associations, etc.) or another exemption under the Order (all such persons
together being referred to as "Relevant Persons"). All securities referred
to herein are only available for investments by Relevant Persons, and any
offer for sale, or any solicitation of an offer to purchase and any
agreement to sell, purchase or otherwise acquire such securities is only
made towards Relevant Persons. Persons not being Relevant Persons must not
act on or rely on this release or any part thereof.
This release includes statements that are, or may be deemed to be,
"forward-looking statements". These forward-looking statements reflect the
current views, expectations and assumptions of the Company's management and
are based on information currently available to management. Forward-looking
statements do not encompass a guarantee for the occurrence of future events
and developments and are subject to known and unknown risks and
uncertainties. As a result of various factors, the actual future results of
CHORUS Clean Energy AG and the actual developments relating to CHORUS Clean
Energy AG may therefore materially differ from the expectations and
assumptions mentioned herein. These factors include changes in the general
economic conditions and the competitive situation. Furthermore,
developments on the financial markets and currency fluctuations as well as
changes in national and international laws, in particular in relation to
the promotion of renewable energies, and other factors have an influence on
the future results of operations and developments of the Company. CHORUS
Clean Energy AG disclaims any obligation or undertaking to update or revise
any forward-looking statement contained in this announcement.
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24.09.2015 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
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Language: English
Company: CHORUS Clean Energy AG
Prof.-Messerschmitt-StraÃe 3
85579 Neubiberg / München
Germany
Phone: +49 (0)89 442 30 60 - 0
Fax: +49 (0)89 442 30 60 - 11
E-mail: info@chorus.de
Internet: www.chorus-gruppe.de
ISIN: DE000A12UL56
WKN: A12UL5
Listed: Regulated Market in Frankfurt (Prime Standard)
Notierung vorgesehen / Intended to be listed
End of News DGAP News Service
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397091 24.09.2015
DGAP-News: CHORUS Clean Energy AG launches IPO
| Source: EQS Group AG