JK Wohnbau AG went public in the Prime Standard of the Regulated Market on the Frankfurt Stock Exchange on 10 November. The IPO included an offering of 10,000,000 new no-par ordinary bearer shares (and a greenshoe of 1,000,000 shares). The issue price was €8.00 and the initial listing price €8.10. Issuing bank is quirin bank AG designated sponsor is Tradegate AG Wertpapierhandelsbank; the lead broker is bid & ask Financial Services GmbH.
“The proceeds from the IPO will be fully invested in operating activities and further growth,” said the company’s founder and CEO, Dr Josef L. Kastenberger. “Above all, we intend to use the funds generated by the IPO to purchase additional properties for project development to grow our core business.”
“We welcome JK Wohnbau AG as the eighth company in 2010 to go public in the Prime Standard,” said Barbara Georg, Head of Listing & Issuer Services at Deutsche Brse. “This year, it is now the 18th new entrant into the Regulated Market.”
According to information provided by the company, JK Wohnbau AG is a leading project developer of residential properties in the greater Munich area. The company’s business activities comprise all phases of project development, from acquisition, through development and construction to the sale of high quality residential properties.
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