DIC Asset AG announces details for rights issue and IPO
DIC Asset AG / Regulatory Admission/IPO
Ad-hoc-Announcement according to § 15 WpHG transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement.
DIC Asset AG (German Securities ID 509840 / ISIN DE0005098404) has set the details for its rights issue on Friday, 21 April 2006, pursuant to a resolution passed in February, which will double the Company's issued share capital, to € 20.34 million. The price range for the 8,635,022 million new shares offered (in respect of which the Company’s large shareholders have waived their pre-emptive subscription right) has been set between € 20 and € 22. The offer for sale will be followed by an indirect subscription offer to the Company’s other shareholders. The subscription period for the new shares will commence on 8 May 2006 and end on 22 May 2006. The syndicate of issuing banks will be able to draw on an additional 925,000 shares, within the scope of an over-allotment option (“greenshoe”).
The final selling and subscription price for DIC Asset AG shares will be determined and published on 4 May 2006. The initial listing of the new shares is scheduled for 8 May 2006, together with the start of the trading period for subscription rights. Today the Company has applied for the shares to be listed in the Official Market at the Frankfurt Stock Exchange, in the Prime Standard segment. Following approval by the German Federal Financial Supervisory Authority (“BaFin”), the Prospectus has been published on the website of DIC Asset AG.
The Company’s majority shareholder, Deutsche Immobilien Chancen Group, which currently holds close to 90% of the share capital of DIC Asset AG, will only subscribe to 500,000 new shares from the capital increase. Following the capital increase, the free float will thus increase from currently around 5% to a level of approx. 39% (assuming full exercise of the greenshoe). Deutsche Immobilien Chancen Group will hold a remaining stake of around 43% in DIC Asset AG. Furthermore, two investors, who are of significant strategic interest to the Company, have expressed their interest in increased exposure: the investor Forum Partners wishes to increase its current 5% share to 7%; and Morgan Stanley Real Estate Funds (MSREF), who have been holding an indirect interest in DIC Asset AG, now intend to acquire a direct shareholding of 11%.
Deutsche Bank and Morgan Stanley have been mandated as joint lead managers, with WestLB and Kempen & Co as additional syndicate members.
This publication constitutes neither an offer to sell nor a solicitation to buy securities of DIC Asset AG. The offer is being made solely by means of, and on the basis of, the published securities prospectus (including any supplements thereto, if any). An investment decision regarding the publicly offered securities of DIC Asset AG should only be made on the basis of the securities prospectus. The securities prospectus is available free of charge from Deutsche Bank Aktiengesellschaft, Große Gallusstraße 10-14, 60311 Frankfurt am Main oder Morgan Stanley Bank AG, Junghofstraße 13-15, 60311 Frankfurt am Main or on the DIC Asset AG website (www.dic-asset.de). This publication does not constitute an offer of securities for sale in the U.S. Securities may not be offered or sold in the U.S. absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. DIC Asset AG does not intend to register any portion of the offering in the U.S. or conduct a public offering of securities of DIC Asset AG in the U.S.
Thomas Pfaff Kommunikation
Tel. (089) 99 24 96-50
Fax (089) 99 24 96-52
company: DIC Asset AG
Eschersheimer Landstr. 223
60320 Frankfurt Deutschland
phone: 069 / 274033-0
fax: 069 / 274033-69
stockmarkets: Freiverkehr in Berlin-Bremen, München, Stuttgart; Open Market in Frankfurt
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