ProCredit
Holding: Successful placement of cash capital increase
- Gross proceeds of the share issue of around EUR 61
million - 5,354,408 new shares issued
- Placement price of EUR 11.40
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Frankfurt
am Main, 02 February 2018. ProCredit Holding AG & Co. KGaA (“ProCredit”, ISIN
DE0006223407), parent company of the ProCredit group, has successfully placed the
capital increase approved on 01 February 2018 The issue of 5,354,408 new shares
at a placement price of EUR 11.40 will yield gross proceeds of approx. EUR 61 million
for ProCredit.
The
new shares were placed by means of an accelerated placement procedure with
qualified investors. The share capital of ProCredit Holding AG & Co. KGaA
was increased from EUR 267,720,420 by EUR 26,772,040 to EUR 294,492,460 against
cash contributions, excluding subscription rights. In light of the high demand
for new shares, the Management Board and Supervisory Board of ProCredit Holding
AG & Co. KGaA decided to increase the share capital from authorised capital
by 10 % rather than by 3%.
The
European Bank for Reconstruction and Development (EBRD) has subscribed for 40%
of the new shares representing 3.6% of ProCredit Holding’s entire share capital
after the capital increase. “ProCredit is
our long standing partner in debt and equity transactions. We are happy to
participate in this first capital increase raised through the capital markets
to support further growth of the Group and improve access of SMEs to
responsible finance in our countries of operations. ProCredit Holding continues
to be among EBRD’s key partner banks in SME lending”, said Henry Russell, EBRD
Director, Western Balkans, Belarus, Moldova and Ukraine, Financial Institutions
Team.
Borislav
Kostadinov, Member of the Management Board of ProCredit General Partner AG
(sole liable managing entity of ProCredit Holding AG & Co. KGaA),
explained: “One year after the listing of
our holding company’s shares on the Frankfurt Stock Exchange, we used this
access to the capital market for the first time today to finance the future
growth of our banking group. We are very pleased with the success of this
measure. The demand for new shares from ProCredit Holding has significantly
exceeded our expectations. We greatly appreciate the fact that the European
Bank for Reconstruction and Development has subscribed for a large number of
new shares. The successful placement of the new shares is for us a clear sign
of confidence in our group and in our way of doing banking.” On the basis of the
successful capital measure, ProCredit plans to continue the group’s growth and to expand its
business with SMEs, primarily from South Eastern and Eastern Europe.
The
new shares are entitled to dividends as of 01 January 2017 and are expected to
be included in the existing listing in the sub-segment of the regulated market
(Prime Standard) of the Frankfurt Stock Exchange on 07 February 2018.
The
capital measure is being accompanied by Berenberg as sole global coordinator
and with equinet Bank as joint bookrunner and Econnext as advisor.
Contact:
Andrea Kaufmann, Group Communications, ProCredit Holding
Tel.: +49 69 951 437 138, e-mail: Andrea.Kaufmann@procredit-group.com
Nadine
Frerot, Investor Relations, ProCredit Holding
Tel.: +49 69 951 437 285,
e-mail: Nadine.Frerot@procredit-group.com
About ProCredit Holding AG & Co. KGaA
ProCredit Holding AG & Co. KGaA, based in
Frankfurt am Main, Germany, is the parent company of the development-oriented
ProCredit group, which consists of banks for small and medium enterprises
(SMEs) and whose operational focus is on South-Eastern and Eastern Europe. In
addition to this regional focus, the ProCredit group is also active in South
America and Germany. The company’s shares are traded on the Prime Standard
segment of the Frankfurt Stock Exchange. The anchor shareholders of ProCredit
Holding AG & Co. KGaA include the strategic investors Zeitinger Invest and
ProCredit Staff Invest (comprising the investment vehicles for ProCredit
staff), the Dutch DOEN Participaties, KfW Development Bank and IFC (part of the
World Bank Group). As the group’s superordinated company according to the
German Banking Act, ProCredit Holding AG & Co. KGaA is supervised on a
consolidated level by the German Federal Financial Supervisory Authority
(Bundesanstalt für Finanzdienstleistungsaufsicht, BaFin) and the German Bundesbank.
More information can be found on the company’s website at www.procredit-holding.com.
Important information
This announcement and the information contained herein is not intended
for, and should not be made available to, any person in the United States of
America (the “United States”), Australia, Canada or Japan or any other
jurisdiction in which such publication or disclosure would be unlawful.
This announcement does not constitute an offer, or part of an offer, or
a solicitation to purchase securities in the United States, Australia, Canada,
Japan, or any other jurisdiction, whether or not such offer or solicitation
would be unlawful.
This release may contain “forward-looking statements” or statements that
are considered to be forward-looking. Such forward-looking statements may be
identified by the use of corresponding words such as “believe”, “assume”,
“plan”, “forecast”, “expect”, “intend”, “may”, “could”, “will” or “should” or
their respective negations or other variations or similar words. The same
applies to statements regarding strategies, plans, objectives, future events or
intentions. Forward-looking statements may differ significantly from future
results and often actually differ. All forward-looking statements reflect
ProCredit Holding’s current view of future events and are subject to risks
relating to future events and other risks, uncertainties and assumptions
regarding ProCredit Holding’s business, financial position, results of operations,
liquidity, prospects, growth or strategy. Forward-looking statements should
always be considered from the perspective of the date on which they are made.
ProCredit Holding, Berenberg and equinet Bank as well as their affiliated
companies expressly disclaim any obligation to update, review or adjust any
forward-looking statements contained in this release as a result of new
information, future developments or other reasons.