DGAP-News: EDAG Engineering Group AG / Key word(s): IPO
EDAG Engineering Group AG to place shares at the issue price of EUR 19.00
per share: offering several times oversubscribed
02.12.2015 / 08:50
The issuer is solely responsible for the content of this announcement.
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EDAG Engineering Group AG to place shares at the issue price of EUR 19.00
per share: offering several times oversubscribed
- Issuance volume of EUR 191.2 million (assuming full exercise of the
greenshoe option)
- Free float of 36.75%(assuming full exercise of the greenshoe option) -
majority shareholder ATON retains an interest in EDAG as long-term
anchor shareholder
- Trading in the shares on the regulated market (Prime Standard) of the
Frankfurt Stock Exchange
Arbon, 2 December 2015. EDAG, an independent engineering services provider
to the global automotive industry, has successfully completed its initial
public offering (IPO). Together with the underwriters, EDAG set the issue
price at EUR 19.00 per share. The offer was substantially oversubscribed at
the issue price. 10,062,500 offered shares (including the overallotment
shares) were placed in the offering. As a result, the total issuance volume
of the EDAG IPO (assuming full exercise of the greenshoe option) amounts to
EUR 191,187,500. ATON GmbH, the previous sole owner of EDAG, will receive
the gross proceeds of the offering. ATON intends to keep a significant
shareholding in EDAG in order to continue shaping the strategic development
of the company long-term and supporting its growth.
"We are extremely pleased with the high demand for EDAG shares," says
Thomas Eichelmann, CEO of ATON GmbH and chairman of the board of directors
of EDAG. "The strong international interest from many investors confirms
that the market shares our belief in EDAG's growth potential. Our priority
over the past years has been to shift the focus of the company on the
automotive sector and advanced technologies. During that time, we have
grown profitably and continued to expand EDAG's international footprint. We
can now press on with this growth strategy as a listed company. EDAG is
optimally positioned today to take a leading role in a potential
consolidation of the engineering services market."
Assuming a full exercise of the greenshoe option, around 36.75 percent of
the total 25 million shares will be in free float. The majority of shares
have been placed internationally with institutional investors. EDAG
employees received shares with a total value of about EUR 4.3 million via a
dedicated employee stock ownership scheme and shares with a total value of
about EUR 16.6 million have been placed with an affiliate of the selling
shareholder, subject to a lock-up commitment.
The selling shareholder, ATON GmbH, has committed to not sell additional
EDAG shares and to not carry out any capital increase or similar corporate
measures for a period of six months from the first day of trading without
approval of the joint global coordinators.
The shares of the company start trading today in the regulated market
(Prime Standard) of the Frankfurt Stock Exchange. The international
securities identification number (ISIN) is CH0303692047, and the German
securities code number (WKN) is A143NB.
Press enquiries
Nina Rosen
Tel: +(49) 0611- 7375 370
eMail: nina.rosen@edag.de
About EDAG
EDAG is an independent engineering services provider for the global
automotive industry. The company serves leading domestic and international
vehicle OEMs and sophisticated automotive suppliers through a global
network of 57 locations in important automotive centres worldwide. EDAG
offers complementary engineering services in the Vehicle Engineering,
Electrics/Electronics and Production Solutions segments. Based on these
extensive capabilities, EDAG can support its clients along the entire value
chain from the original design idea to product development and prototype
construction and all the way to the delivery of turnkey production systems.
As a technology and innovation leader, EDAG also operates established
competence centres that design landmark technologies for future
applications in the automotive industry, i.e. lightweight construction,
electric mobility, car IT and new production technology. In the financial
year 2014, EDAG generated Core Revenue(1) of EUR 634.7 million and an
Adjusted Core EBIT(2) of EUR 53.2 million. As at 30 September 2015, 8,063
employees (including apprentices) worked for EDAG in 19 countries.
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1 Core Revenues represent EDAG's sales revenues with third parties
(excluding intersegment revenues) and changes in inventories for EDAG's
three core segments (Vehicle Engineering, Electrics/Electronics and
Production Solutions), and excludes EDAG's Others segment.
2 Adjusted Core EBIT represents the sum of the adjusted earnings before
interest and taxes for EDAG's three core segments (Vehicle Engineering,
Electrics/Electronics and Production Solutions) and excludes the segment
Others. Adjusted Core EBIT is adjusted for effects from purchase price
allocations on a Group level. These purchase price allocation adjustments
relate only to the three core segments (Vehicle Engineering,
Electrics/Electronics and Production Solutions). No purchase price
allocation adjustments relate to the Others segment.
Disclaimer
This announcement does not contain or constitute an offer of, or the
solicitation of an offer to buy or subscribe for, securities.
This document contains forward-looking statements. These statements are
based on the current views, expectations and assumptions of the management
of EDAG and involve known and unknown risks and uncertainties that could
cause actual results, performance or events to differ materially from those
expressed or implied in such statements. Actual results, performance or
events may differ materially from those described herein due to factors
affecting EDAG such as, among other things, changes in the general economic
and competitive environment, capital market risks, currency exchange rate
fluctuations and competition from other companies, and changes in
international and national laws and regulations, in particular with respect
to tax laws and regulations. EDAG does not assume any obligations to update
any forward-looking statements.
This announcement is not a prospectus. Investors should not purchase or
subscribe for any shares referred to in this announcement except on the
basis of information in the prospectus issued by the company in connection
with the offering of such shares Copies of the prospectus are available
free of charge from EDAG Engineering Group AG, Schlossgasse 2, CH 9320
Arbon or on the company's website via http://ir.edag.com.
This document is not a prospectus within the meaning of Article 652a of the
Swiss Code of Obligations, nor is it a listing prospectus as defined in the
listing rules of the SIX Swiss Exchange AG or a prospectus under any other
applicable laws.
This release is not an offer of securities for sale in the United States of
America. Securities may not be offered or sold in the United States of
America absent registration or an exemption from registration under the
U.S. Securities Act of 1933, as amended (the "Securities Act"). Any public
offering of securities to be made in the United States of America would be
made by means of a prospectus that could be obtained from EDAG and that
would contain detailed information about the company and management, as
well as financial statements. There will be no public offer of the
securities in the United States of America.
Subject to certain exceptions under applicable securities laws, the
securities referred to herein may not be offered or sold in Australia,
Canada or Japan or to, or for the account or benefit of, any national,
resident or citizen of Australia, Canada or Japan.
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02.12.2015 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Language: English
Company: EDAG Engineering Group AG
Schlossstrasse 2
9320 Arbon
Switzerland
Phone: +41 71 54433-0
E-mail: ir@edag-group.ag
Internet: www.edag.com
ISIN: CH0303692047
WKN: A143NB
Listed: Regulated Market in Frankfurt (Prime Standard)
End of News DGAP News Service
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420303 02.12.2015
DGAP-News: EDAG Engineering Group AG to place shares at the issue price of EUR 19.00 per share: offering several times oversubscribed
| Source: EQS Group AG