DGAP-News: MIFA Mitteldeutsche Fahrradwerke AG: Corporate bond uplisted to Frankfurt Stock Exchange's Entry Standard
(firmenpresse) - DGAP-News: MIFA Mitteldeutsche Fahrradwerke AG / Key word(s): Bond
MIFA Mitteldeutsche Fahrradwerke AG: Corporate bond uplisted to
Frankfurt Stock Exchange's Entry Standard
02.10.2013 / 07:45
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MIFA: Corporate bond uplisted to Frankfurt Stock Exchange's Entry Standard
Sangerhausen, 2 October, 2013 - From today, the corporate bond of Germany's
largest manufacturer of bicycles in terms of sales, MIFA Mitteldeutsche
Fahrradwerke AG (ISIN: DE000A1X25B5; WKN: A1X25B), is to be traded in the
Entry Standard for bonds on the Frankfurt Stock Exchange. Purchases of the
bond are to occur in accordance with the general business terms for the
Regulated Unofficial Market on the Frankfurt Stock Exchange. Potential
buyers of the bonds can submit purchase orders through any bank that is
admitted to trading on the Frankfurt Stock Exchange. MIFA will issue no new
bonds in this context, however.
Based on a resolution by MIFA's Management and Supervisory boards on 2
August 2013, and following approval of the listing prospectus by the German
Federal Financial Supervisory Authority (BaFin) on Monday, the bonds were
uplisted as planned to the Entry Standard, having been included in the Open
Market of Deutsche Börse AG (OTC/Regulated Unofficial Market of the
Frankfurt Stock Exchange) since 5 August 2013. The listing prospectus can
be viewed on the websites of Deutsche Börse AG and MIFA (in its Investor
Relations area). The corporate bond comprises a volume of EUR 25 million
and is denominated in bonds of EUR 1,000 each. equinet Bank AG as sole lead
manager and sole bookrunner placed the bond exclusively among institutional
investors as part of a private placement in early August, with the books
being significantly oversubscribed. The bond carries a five-year maturity
with a first maturity date on 12 August 2018, and the interest coupon is
7.50 %. Feri EuroRating Services AG awarded the security a BBB- rating
(investment grade).
MIFA CEO Peter Wicht regards the uplisting of the MIFA corporate bond as a
logical step: 'Inclusion of our corporate bond in the Entry Standard should
underscore the high transparency claims that we make of our company. All
bondholders will be informed continuously and immediately about all
relevant developments in our company. We are thereby continuing on the path
on which we started in summer 2012 when our share was uplisted to the Prime
Standard.'
About the company:
MIFA Mitteldeutsche Fahrradwerke AG, headquartered in Sangerhausen
(Saxony-Anhalt), is Germany's largest manufacturer of bicycles in terms of
sales. The company offers a comprehensive range of bicycle models spanning
entry price through to premium end. The components included in bicycle
production are sourced from renowned suppliers and assembled at the
company's sole production site in Sangerhausen, Germany. Business in this
context focuses on product-related order production for major retail chains
and OEM (Original Equipment Manufacturer) customers. E-bikes have also been
manufactured since 2011. MIFA produces e-bikes for automotive manufacturer
Smart, manufactures for the Deutsche Post bicycle fleet, and supplies
communal lending systems with multi-user vehicles, among other customers.
In 2012, MIFA acquired Berlin-based e-bike manufacturer Grace and
Bavaria-based cult bicycle forging company Steppenwolf, thereby
intensifying its sales activities via specialist dealers. MIFA sells its
bicycles predominately on its domestic German market. Further sales markets
are located mainly in Western Europe. Both the operating business and
administration and logistics are managed at the company's sole production
location in Sangerhausen.
MIFA sold around 546,000 bicycles in 2012 (previous year: around 644,000).
The company generated EUR 111.3 million of sales revenue, up 10.7 %
compared with the previous year (EUR 100.5 million). E-bikes represented
30.0 % of total revenue (previous year: 12.5 %). On this revenue base, the
company achieved operating profit (EBIT) adjusted for acquisition effects
of EUR 2.9 million (previous year: EUR 4.6 million), and correspondingly
adjusted net income stood at EUR 1.1 million (previous year: EUR 2.0
million). MIFA has been a listed company since May 2004. Its shares are
traded in the Prime Standard of the Regulated Market of the Frankfurt Stock
Exchange.
Contact:
Mark Appoh
cometis AG
Unter den Eichen 7
65195 Wiesbaden
Telephone: 0611-205855-21
Fax: 0611-205855-66
E-Mail: appoh(at)cometis.de
End of Corporate News
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02.10.2013 Dissemination of a Corporate News, transmitted by DGAP - a
company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: MIFA Mitteldeutsche Fahrradwerke AG
Kyselhäuser Straße 23
06526 Sangerhausen
Germany
Phone: 03464-5370
Fax: 03464-537251
E-mail: b.mirau(at)mifa.de
Internet: www.mifa.de
ISIN: DE000A0B95Y8
WKN: A0B95Y
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Hamburg, München (m:access),
Stuttgart
End of News DGAP News-Service
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232590 02.10.2013
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Datum: 02.10.2013 - 07:45 Uhr
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News-ID 301994
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