GOVECS AG
GOVECS AG defines details of IPO
DGAP-News: GOVECS AG / Key word(s): IPO NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. GOVECS AG defines details of IPO
Munich, 17 September 2018 – GOVECS AG (“GOVECS”, “the Company”), the leading manufacturer of electric scooters in Europe, has fixed the price range for the planned IPO at EUR 10.00 to The offering comprises a total of up to 7,532,500 no-par-value bearer shares. Of these, 6,250,000 shares are accounted for by a capital increase, and up to 300,000 existing shares offered by the main shareholder Dquadrat Equity Partner. In addition, up to 982,500 shares also derived from Dquadrat Equity Partner can be placed by the banks involved as part of a greenshoe option. Full placement of the shares offered and full exercise of the greenshoe option would result in a free float of approx. 62% upon execution of the transaction. The net proceeds of the capital increase are to be used to enable the dynamic growth of GOVECS AG in the fast-growing e-scooter market to continue. “Experts anticipate growth rates for the e-scooter market in Europe – which is still in its infancy – of over 25 per cent by the year 2026. The high level of demand for an environmentally friendly and simultaneously comfortable mobility solution opens up outstanding opportunities for our enterprise. The IPO is intended to accelerate our growth and simultaneously boost our level of brand recognition on the market – in fact, we’re now ready to advance to a new size category,” explains Thomas Grübel, CEO and co-founder of GOVECS. In particular, GOVECS plans to extend production capacities in Poland and to boost the company’s vertical integration. In addition, the existing product and service portfolio is to be expanded by developing new product models and including complementary services, such as leasing models. The further extension of operations is to be intensified in the “Business-to-Delivery” (B2D) and “Business-to-Consumer” (B2C) divisions, e.g. by establishing storage facilities for ready-to-ship e-scooters and spare parts and by investing in the HappyScooter distribution platform. The company’s leading position in the European e-scooter sharing market (B2S) business segment is likewise to be reinforced by the IPO. The stock market listing of GOVECS shares under the German securities code (WKN) A2NB12, the International Securities Identification Number (ISIN) DE000A2NB122 and the ticker symbol GES is planned on the regulated market of the Frankfurt Stock Exchange with simultaneous admission to the sub-segment of the regulated market with additional post-IPO obligations (Prime Standard). The initial listing is scheduled for 2 October 2018. The lock-up period for the existing shareholders, the family office Dquadrat Equity Partner, Mr Thomas Grübel (CEO), Mr Nicholas Holdcraft (COO) and the firm Prince Invest GmbH amounts to twelve months and, for the company, six months after the first day of trading. Within the scope of the transaction, Bankhaus Lampe and COMMERZBANK will be acting as joint global coordinators and joint bookrunners. The official securities prospectus will be published on the company’s website following approval by the German Federal Financial Supervisory Authority (BaFin) and made available for download at https://www.govecsgroup.com/en/ipo/.
The GOVECS Group is the leading manufacturer of electric scooters in Europe and is developing future-oriented solutions for urban mobility. The Company’s success is based on high-quality “Made in Europe” products for international vehicle sharing platforms and on custom-made designs for the rapidly growing merchandise delivery segment. GOVECS is selling electric scooters and accessories to the high-growth private customer segment via its own HappyScooter e-commerce platform. The GOVECS product range currently includes the e-scooters of the Schwalbe, GO! S, ELMOTO and GO! T brands. Contacts for media enquiries: Kirchhoff Consult AG, Nicole Schüttforth, nicole.schuettforth@kirchhoff.de, +49 40 60 91 86 64 GOVECS AG, Daniele Cesca, dcesca@govecs.com, +49 89 411 09 77 15
The information contained herein is not for distribution, directly or indirectly, in or into the United States of America (including its territories and possessions, any State of the United States of America or the District of Columbia) and must not be distributed to U.S. persons (as defined in Regulation S of the U.S. Securities Act of 1933, as amended (“Securities Act“)) or publications with a general circulation in the United States of America. This publication constitutes neither an offer to sell nor a solicitation to buy or subscribe to securities in the United States of America. Securities of GOVECS AG (the “Company“) have not been and will not be registered under the Securities Act and may not be offered or sold in the United States of America absent registration or an exemption from registration under the Securities Act. The Company does not intend to register any portion of the offering in the United States of America or to conduct a public offering of the securities in the United States of America. This release is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company. No offer of the securities of the Company is being, or will be made, to the public outside the Federal Republic of Germany (“Germany”) and the Grand Duchy of Luxembourg (“Luxembourg”). The offer in Germany and Luxembourg will be made solely by means of, and on the basis of, a securities prospectus to be approved by the German Federal Financial Supervisory Authority (BaFin). After the approval the securities prospectus will be available free of charge at the Company’s office, as well as, for viewing in electronic form, on the Company’s website (www.govecs.com). An investment decision regarding the publicly offered securities of the Company should only be made on the basis of the securities prospectus. In member states of the European Economic Area (“EEA”) other than Federal Republic of Germany (“Germany”) and the Grand Duchy of Luxembourg (“Luxembourg”), this information is only addressed to and directed at persons who are “qualified investors” within the meaning of Article 2(1)(e) of the Prospectus Directive (Directive 2003/71/EC and any amendments thereto including Directive 2010/73/EU to the extent implemented in the relevant EEA member state) and any relevant implementing measure in the relevant member state of the EEA (“Qualified Investors”). In the United Kingdom, this information is directed at and/or for distribution only to (i) investment professionals falling within article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”), or (ii) high net worth companies falling within article 49(2)(a) to (d) of the Order (each such person hereinafter a “relevant person”). The securities are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this information or any of its contents. Statements contained herein may constitute “forward-looking statements.” Forward-looking statements are generally identifiable by the use of the words “may”, “will”, “should”, “plan”, “expect”, “anticipate”, “estimate”, “believe”, “intend”, “project”, “goal” or “target” or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are based on current expectations and involve a number of known and unknown risks, uncertainties and other factors that could cause the Group’s or its industry’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward looking statements. You should not place undue reliance on forward-looking statements and the Group does not undertake publicly to update or revise any forward-looking statement that may be made herein, whether as a result of new information, future events or otherwise.
17.09.2018 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English |
Company: | GOVECS AG |
Grillparzerstraße 18 | |
81675 München | |
Germany | |
Phone: | +49 (0)89 411 09 77 – 0 |
E-mail: | info@govecs.com |
Internet: | www.govecs.de |
ISIN: | DE000A2NB122 |
WKN: | A2NB12 |
Listed: | Regulated Market in Frankfurt (Prime Standard) |
Notierung vorgesehen / Designated to be listed |
End of News | DGAP News Service |