DGAP-News: First IPO by a German company in 2012 - KTG Energie AG going public
(firmenpresse) - DGAP-News: KTG Energie AG / Key word(s): IPO
First IPO by a German company in 2012 - KTG Energie AG going public
13.06.2012 / 07:30
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First IPO by a German company in 2012 - KTG Energie AG going public
-Business model with highly predictable earnings allows for high
dividend payments
-Subscription period from 13 June to 26 June 2012
-2.7 million shares at a fixed price of EUR 13.80
-Anchor investors have already signed subscriptions
Hamburg, 13 June 2012 - Today marks the start of the subscription period
for the first IPO by a German company in the year 2012. KTG Energie AG
(ISIN: DE000A0HNG53), the country's third-largest producer of renewable
energy from biogas and a subsidiary of KTG Agrar AG, has set the price for
its public offering at EUR 13.80 per share in conjunction with lead manager
WGZ Bank and the incumbent shareholder. KTG Energie is offering 2,700,000
shares for subscription, which translates into gross proceeds of up to EUR
37.26 million from the issue.
Dr. Thomas Berger, CEO of KTG Energie, said:' Our IPO offers investors
exposure to a well-established business model with highly predictable
earnings in the renewable energies space.' KTG Energie was among the
pioneers in the nascent biogas industry when it started up its first biogas
plants in 2006. Over the past years the company has continued to grow and
today operates biogas plants with a production capacity of 22.4 megawatts
(MW) under full load. A number of other plants are in the start-up or
construction phase; the 30 MW mark will be clearly exceeded during the
course of 2012. This is sufficient to supply close to a quarter million
people with clean green energy. Last year saw the company's sales rise by
50 percent to EUR 21.5 million while operating profit (EBIT) advanced by 44
percent to EUR 4 million. Several new biogas plants went on line at the end
of 2011 and will contribute to sales and earnings in 2012, meaning that
continued growth is already ensured. In May 2012 analysts at Creditreform
Rating AG assigned KTG Energie a BBB- rating, thereby putting the company
in the investment grade class.
HIGHLY PREDICTABLE BUSINESS MODEL TO SUPPORT HIGH DIVIDENDS AS FROM 2013
The net proceeds from the issue will serve to fund the company's continued
growth. KTG Energie operates in an attractive market environment due to the
versatility of biogas as a fuel for both base load and peak load power
generation. This makes it an important element in the transition to green
energy pushed ahead by the German government. Apart from its excellent
opportunities in the market, KTG Energie's business model offers very good
predictability. On the one hand, the German Renewable Energies Act
(Erneuerbare Energien Gesetz, EEG) guarantees a fixed tariff for feeding
biogas-fuelled electricity into the public grid for 20 years. On the other
hand, KTG Energie continues to benefit from its integration with one of
Europe's leading agricultural companies, given that KTG Agrar will remain
its majority shareholder after the IPO. This means that supplies of biogas
feedstock are ensured over the long term. Says Dr. Thomas Berger: 'Over the
past years we have invested more than EUR 100 million in the construction
of biogas plants. While we will continue to grow our present production
capacity, we will at the same time pay an attractive dividend to our
shareholders as from 2013.'
SUBSCRIPTIONS POSSIBLE PRESUMABLY UNTIL JUNE 26
Interested investors may subscribe shares in the company in the period from
13 June to 26 June 2012 (12 a.m.). Apart from Lead Manager WGZ Bank,
selling agents include youmex Invest AG, DONNER&REUSCHEL AG and Silvia
Quandt&Cie. AG in cooperation with biw bank AG. Private investors can
make subscriptions via all member institutions of the Volks- und
Raiffeisenbank group, DAB bank AG, ING-DiBa AG and Cortal Consors S.A.
Trading in the shares is scheduled to commence in the Open Market (Entry
Standard) of the Frankfurt Stock Exchange on 29 June 2012.
The IPO is for 2,700,000 no-par-value shares with a nominal value of EUR 1.
This total number breaks down into (a) 1,000,000 shares created through a
capital increase against cash which raise the capital stock from 5,000,000
shares to 6,000,000 shares and (b) 1,700,000 shares previously owned by
incumbent sole shareholder KTG Agrar. The latter will remain KTG Energie's
majority shareholder with a minimum stake of 55 percent. Talks with
potential anchor investors conducted in the run-up to the IPO not only
identified a strong appetite for the issue but also resulted in firm
commitments for sizeable subscriptions.
The IPO terms are set out in the prospectus approved by German regulator
BaFin (Bundesanstalt für Finanzdienstleistungsaufsicht) on 12 June 2012.
The prospectus has been posted on the company's website
(www.ktg-energie.de) and is available in hardcopy format from KTG Energie
AG, Ferdinandstraße 12, 20095 Hamburg, Germany.
ABOUT KTG ENERGIE AG
Headquartered in Hamburg, KTG Energie AG (ISIN: DE000A0HNG53) specialises
in the production of green energy from renewable resources. The company has
operated biogas plants in Germany since 2006, covering the entire value
chain from planning to construction and operation. At present the company
has biogas plants with a production capacity of 22.4 megawatts running
under full load; a number of other plants are either in the start-up stage
or under construction. This total capacity is sufficient to supply close to
a quarter million people with clean green energy. Production capacity will
be expanded in the coming years. As a subsidiary of agricultural producer
KTG Agrar AG, the company benefits from long term access to renewable
feedstock supplies, in particular intercrops, grass and hay. KTG Energie
currently employs approximately 40 people and reported 2011 sales of EUR
21.5 million as well as an operating profit (EBIT) of approximately EUR 4
million.
ABOUT KTG AGRAR
With cultivable land of around 35,000 hectares, KTG Agrar AG (ISIN:
DE000A0DN1J4) is one of the leading producers of agricultural commodities
in Europe. As an integrated supplier, the company produces agricultural
commodities and renewable energy and food. The Hamburg-based company's core
area of expertise is the organic and traditional cultivation of market
products such as cereals, maize and rapeseed. For organic market products
KTG Agrar is the European market leader. The company mainly produces in
Germany but has also operated production in the EU member state of
Lithuania since 2005. The company's third mainstay is the production of
bio-energy. At present, KTG Agrar operates biogas plants with a total
capacity of around 30 megawatts. As a result of the takeover of Frenzel
Tiefkühlkost in 2011, KTG has expanded the value chain by the production of
food. In the year 2011, KTG achieved a total output of EUR 112,1 million
and EBIT of EUR 15,1 million. Since November 2007 the company is listed on
the Frankfurt Stock Exchange and has currently about 600 employees. Further
information can be found at www.ktg-agrar.de.
CONTACT
Investor Relations / Presse
Fabian Lorenz
IR.on AG
Phone: +49 221 914097-6
E-mail: fabian.lorenz(at)ir-on.com
DISCLAIMER
This press release does not constitute an offer to sell securities in the
United States of America, Canada, Australia, Japan or other jurisdictions
in which an offer is subject to statutory restrictions. The securities
mentioned in this press release may not be offered or sold in the United
States or to, or for the account or benefit of, US persons (as such term is
defined in Regulation S under the Securities Act of 1933 as amended (the
'Securities Act')) unless they are registered under the Securities Act or
exempt from registration. Subject to certain exceptions according to the
Securities Act the securities mentioned in this press release may not be
offered or sold in Australia, Canada or Japan or to, or for the account or
benefit of, Australian, Canadian or Japanese residents. A registration of
the offer or the selling of the securities mentioned in this press release
according to the respective legal provisions in Canada, Australia and Japan
will not take place. It is not intended to make a public offer of
securities in the United States.This information solely serves marketing
purposes and does not constitute a securities prospectus. Prospective
investors interested in the securities mentioned in this press release
should base their investment decision solely on the basis of information
provided by the securities prospectus regarding the offer of these
securities which has been approved by the German Federal Financial
Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht,
BaFin) and published by KTG Energie AG. Interested investors may obtain a
free copy of the securities prospectus directly from KTG Energie AG
(Ferdinandstr. 12, 20095 Hamburg, Germany; phone: +49-(0)40/76755-372, fax:
+49-(0)40/76755-374) or at www.ktg-energie.de/wertpapierprospekt. All
statements of opinion and/or belief contained in this press release and all
views expressed and all projections, forecasts or statements relating to
expectations regarding future events or the possible future performance of
KTG Energie AG or any corporation affiliated with KTG Energie AG only
represent the own assessments and interpretation by KTG Energie AG of
information available to it as of the date of this document. No
representation is made or assurance given that such statements, views,
projections or forecasts are correct or that they will be achieved as
described. Prospective investors must determine for themselves what
reliance (if any) they should place on such statements, views, projections
or forecasts and no responsibility is accepted by KTG Energie AG or any of
their respective affiliates or any of their advisors in respect thereof.
Thus, it is important, that prospective investors rely on their own
examination of the legal, tax, financial and other consequences of an
investment in KTG Energie AG, including the merits of investing and the
risks involved. Prospective investors must not treat the contents of this
document as advice relating to legal, tax or investment matters and are
advised to consult their own professional advisors concerning the
acquisition, holding or disposal of any investment in KTG Energie AG.
End of Corporate News
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13.06.2012 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: KTG Energie AG
Ferdinandstr. 12
20095 Hamburg
Germany
Phone: +49 40 76755372
Fax: +49 40 76755374
E-mail: info(at)ktg-energie.de
Internet: www.ktg-energie.de
ISIN: DE000A0HNG53
WKN: A0HNG5
End of News DGAP News-Service
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173613 13.06.2012
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