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Hess makes successful start on stock exchange

25 October 2012 14.15 BST


(Germany) - Lighting specialist listed in the Prime Standard on the Frankfurt Stock Exchange from today with an initial price set at €15.60.

German architectural lighting manufacturer Hess AG made a successful start to its listing in the Prime Standard of the Frankfurt Stock Exchange.

A total of 2.645.000 shares were distributed at the placing price of €15.60. 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.”

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.

www.hess.eu

 

Christoph Hess, CEO of Hess AG, ringing in the start of trading on the trading floor in Frankfurt together with CFO Peter Ziegler.
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