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Successful start on the stock exchange
Villingen-Schwenningen, 25.10.2012
Hess AG
Hess AG, an internationally established manufacturer of outdoor and architectural
lighting, today made a successful start to its listing in the Prime Standard of the
Frankfurt Stock Exchange. From today, the share can be traded under ISIN
DE000A0N3EJ6 and WKN A0N3EJ.
NOT FOR PUBLICATION OR DISTRIBUTION IN THE USA, CANADA, JAPAN AND
AUSTRALIA.
> Lighting specialist listed in the Prime Standard on the Frankfurt Stock
Exchange from today> Initial price set at € 15.60
Hess AG, an internationally established manufacturer of outdoor and architectural
lighting, today made a successful start to its listing in the Prime Standard of the
Frankfurt Stock Exchange. From today, the share can be traded under ISIN
DE000A0N3EJ6 and WKN A0N3EJ. The initial price was set at € 15.60. A total of
2.645.000 shares were distributed at the placing price. The gross issue proceeds
from the capital increase totalling 2,300,000 new shares therefore came in at € 35.65
million and is to be paid to Hess AG. In addition, an over-allotment of 345,000 shares
from the holdings of Hess Grundstücksverwaltungs GmbH & Co. KG was made. In
total, 5,216,667 no par ordinary bearer shares were registered for trading. As a
result, the market capitalisation of Hess AG totalled € 81.38 million at the start of
trading. The transaction was supported by LBBW in the role of lead manager and
sole bookrunner, with Kempen & Co. N.V. and M.M. Warburg & CO KGaA acting as
the co-lead managers.
Christoph Hess, CEO of Hess AG, this morning rang in the start of trading on the
trading floor in Frankfurt together with CFO Peter Ziegler. “Our successful start on the
stock exchange underlines how well-received our business model has been by
investors. We want to use the proceeds from the capital increase to drive further
rapid growth and create sustainable value for our shareholders,” says Christoph
Hess. “Thanks to our market position, we are excellently placed. The IPO puts us in
the position to participate in the global LED revolution and to make a decisive
contribution to shaping it ourselves.” Free float will be 50.7 % or 44.1 % if the
Greenshoe option is not exercised. 90.8 % of the shares placed were distributed to
institutional investors, with the remaining 9.2 % going to private investors. As part of
the preferential allotment, 4.2 % of the shares offered were distributed to private
customers from Sparkasse Schwarzwald-Baar and Ostsächsische Sparkasse
Dresden.
Company profile
Hess AG, headquartered at Villingen-Schwenningen, Baden-Württemberg, Germany,
is one of the internationally established manufacturers of external and architectural
lighting. One focus in this context is on energy-efficient lights utilising modular LED
technology. With the acquisition of Frankfurt-based emdelight GmbH in March 2012,
Hess is excellently positioned in the international market for artistically designed light
solutions. Projects realised by emdelight include illuminating the facade of the
Commerzbank’s head office in Frankfurt, and recently the 8.5 km-long Barwa
Commercial Avenue shopping centre in Qatar.
Hess generated € 68.1 million of revenue in the 2011 financial year, and EBIT
(operating profit) of € 5.6 million, equivalent to an 8.2 % EBIT margin. The company
further accelerated its year-on-year growth rate in the first half of 2012, achieving
approximately 39 % revenue growth. The company’s products are distributed and
sold in more than 50 countries worldwide – with a growing presence on the important
lighting markets of Europe, Asia, the Middle East and North America. The company
manufactures at three locations in Germany and the USA; Hess also has final
assembly capacities, including in Japan and China. During the first half of 2012, the
company employed an average of 360 staff.
Disclaimer
This publication represents neither an offer to purchase nor the request for an offer
for the purchase of securities. Hess AG securities are not, and will not be, offered
publicly outside Germany. The public offer in Germany occurs exclusively through
and on the basis of the securities prospectus dated 5 October 2012 and the
Amendment No. 1 to the securities prospectus dated 17 October 2012. The shares
offered as part of the IPO have already been placed.This publication represents
neither an offer to purchase nor the request for an offer for the purchase of securities
in the United States of America. Hess AG shares may not be offered or sold in the
United States of America, or to “US Persons” (as defined in Regulation S of the US
Securities Act of 1933 in the respective valid version (the “Securities Act”)), or for the
account of “US Persons”, unless they are registered or exempt from the requirement
to register pursuant to the Securities Act.The shares were not, and are not, registered
pursuant to the Securities Act. This publication is for distribution only to(i) individuals
who have professional experience in matters relating to investments, or(ii) individuals
who fall under Article 49 (2) (a) to (d) (”high net worth companies“, unincorporated
associations etc) of the Financial Services and Markets Act 2000 (Financial
Promotion) Order 2005, or(iii) other individuals to whom they may be legally made
accessible (whereby such individuals are together designated as ”Relevant
Persons”).This publication is addressed exclusively to Relevant Persons. Individuals
who are not Relevant Persons may not act on the basis of trust in this publication.
Any investment or investment activity relating to this publication is open exclusively to
Relevant Persons, and will be entered into solely with Relevant Persons.
Contact
Hess AG
Marco Walz
Investor Relations
Lantwattenstraße 22
D - 78050 Villingen-Schwenningen
Tel.: +49 7721 920-475
Fax: +49 7721 920-771475
E-Mail: [email protected]
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