DGAP-News: Chamartín Meermann Immobilien announces details on IPO
(firmenpresse) - Chamartin Meermann Immobilien AG / IPO
25.06.2010 16:44
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Chamartín Meermann Immobilien announces details on IPO
- Share price range between EUR 7.70 and 9.70
- Offer period from 28 June 2010 to 5 July 2010
- Majority of issues are from capital increase with a volume of up to EUR
62.6m
- Scheduled start of trading on the Prime Standard on 7 July 2010
Berlin, 25 June 2010 - Chamartín Meermann Immobilien AG (CMI AG), largest
real estate developer in Berlin, published its securities prospectus today,
as approved by the German Financial Supervisory Authority (Bundesanstalt
für Finanzdienstleistungsaufsicht - BaFin), on the company website at
www.cmi-ag.de and is announcing further details on its IPO.
In the public offering, CMI AG is issuing a total of up to 7,305,000
shares. The majority of up to 6,455,000 shares result from a capital
increase. Under the greenshoe option, the company is offering an additional
number of up to 1,095,750 existing shares of its shareholder, the Spanish
real estate group Inmobiliaria Chamartín S.A. The price range has been
determined between EUR 7.70 and EUR 9.70. Based on this, CMI AG expects to
gain up to EUR 62.6 million from the capital increase. The offer period
begins Monday, 28 June 2010 and ends on Monday, 5 July 2010 at 16:00 hours
CET. The CMI shares are scheduled to be listed for trading in the Prime
Standard of Frankfurt Stock Exchange on 7 July 2010.
CMI AG is planning to use the proceeds primarily for strengthening its
equity base and financing its existing project pipeline, which has an
anticipated sales volume of approximately EUR 600 million. Furthermore, the
proceeds will be used for acquiring projects that are currently still being
assessed, mainly in prime locations in Berlin, the regional focus of the
company.
The Spanish majority shareholder Inmobiliaria Chamartín S.A. is using the
IPO to pursue its strategy change from central to local financing for its
activities abroad and allowing a higher level of independence for CMI AG.
After a successful IPO, the share of the Spanish real estate group in CMI
AG will be reduced from the current 90% to 49.5% before the greenshoe
option and to 42.9% after the option has been completely exercised. Heinz
H. Meermann, founder and chairman of the Supervisory Board, will not sell
any shares in the IPO and is expected to hold a stake of 6.1% after the
IPO. Free float of CMI AG shares will amount to 51.1% if all offered shares
are placed and the greenshoe option is fully exercised.
Both existing CMI AG shareholders have resolved a lock-up agreement stating
that Inmobiliaria Chamartín S.A. may not sell any CMI shares within twelve
months and Heinz H. Meermann is restricted from selling any CMI shares for
24 months after the IPO.
The IPO will include a public offering to retail and institutional
investors in Germany as well as international private placements with
institutional investors in Europe. Hauck&Aufhäuser Privatbankiers and
BankM - representatives of biw Bank für Investments und Wertpapiere - will
act as joint lead manager and joint bookrunner. Silvia Quandt Bank as
co-lead manager is also part of the consortium. Orders will be accepted
among others by comdirect bank AG, DAB bank AG as well as flatex Online
Broker.
On the occasion of the planned initial public offering, the company will
host a Press and Analyst Conference on Tuesday, 29 June 2010, at 9 a.m. in
the Maritim Hotel Frankfurt, Theodor-Heuss-Allee 3, 60486 Frankfurt/Main.
About Chamartín Meermann Immobilien AG:
Chamartín Meermann Immobilien AG (CMI AG) is the largest project developer
in Berlin. The company operates across the residential, office, commercial
and hotel segments and has a project volume of around EUR 600 million. It
focuses on creating highly attractive living spaces at premium locations in
'Neue Berlin-Mitte'. Working only to highest of quality standards, the
company creates true value for any location as well as its stakeholders by
drawing on expertise, creativity and attention to detail. It concentrates
on refurbishing exclusive historical buildings, new construction projects
in first-class locations and developing city quarters with unique
qualities. The independent group emerged from a cooperation with the
Spanish real estate group Inmobiliaria Chamartín S.A. and has a wealth of
know-how in project development spanning more than 30 years at its
disposal. Additional information is available at: www.cmi-ag.de.
Contact:
Barbara Lipka
Head of Communications
Chamartín Meermann Immobilien AG
Tel.: +49 (0)30 308775 150
Fax: +49 (0)30 308775 199
E-mail: barbara.lipka(at)cmi-ag.de
Dariusch Manssuri
IR.on AG
Tel.: +49 (0)221 91409 75
E-mail: dariusch.manssuri(at)ir-on.com
The offer described in this announcement does not constitute an offer to
buy or subscribe for securities to any person in Australia, Canada, Japan,
or the United States or in any jurisdiction to whom or in which such offer
or solicitation is unlawful. The securities referred to herein may not be
offered or sold in the United States absent registration under the U.S.
Securities Act of 1933, as amended (the 'Securities Act') or another
exemption from, or in a transaction not subject to, the registration
requirements of the Securities Act. Subject to certain exceptions, 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.
The offer and sale of the securities referred to herein has not been and
will not be registered under the Securities Act or under the applicable
securities laws of Australia, Canada or Japan. There will be no public
offer of the securities in the United States.
This press release only serves advertisement purposes and does not
constitute a securities prospectus.Investors should not purchase or
subscribe for any shares referred to in this press release except on the
basis of the information in the securities prospectus issued by Chamartín
Meermann Immobilien AG (the 'Company') in connection with the offering of
such shares and approved by the German Financial Supervisory Authority
(BaFin). Copies of the prospectus are available free of charge from
Chamartín Meermann Immobilien AG (SpreeKarree, Friedrichstraße 136, 10117
Berlin, Germany) or on the Company's website (www.cmi-ag.de).
This announcement includes 'forward-looking statements', which are based on
evaluations and assumptions made to the best knowledge by the management of
Chamartín Meermann Immobilien AG. Forward-looking statements are subject to
known and unknown risks, uncertainties and other factors, which may lead to
a considerable discrepancy of the earning and profit situation, value
development or the results of Chamartín Meermann Immobilien AG from the
earning and profit situation, value development or the result, which is
expressly and implicitly described in these forward-looking statements.
Considering the risks, uncertainties as well as the other factors,
recipients of this press release should not inadequately rely on these
forward-looking statements. Chamartín Immobilien AG does not take any
obligation to currently adjust such forward-looking statements and to
adjust them to future events and developments.
25.06.2010 16:44 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Language: English
Company: Chamartin Meermann Immobilien AG
Friedrichstr. 136
10117 Berlin
Deutschland
Phone: +49 (0)30 308 775 305
Fax: +49 (0)30 308 775 399
E-mail: info(at)cmi-ag.de
Internet: www.chamartin.de
WKN:
End of News DGAP News-Service
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Datum: 25.06.2010 - 16:44 Uhr
Sprache: Deutsch
News-ID 23043
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