DEVIL AG, one of Germany's leading IT distributors, is offering its shares for subscription in a price range of EUR 6.00 to EUR 9.00 as part of its IPO. The company and an existing shareholder have set the price range together with quirin bank AG. The shares can be subscribed during the offering period from May 8 to May 14, 2008. The capital increase thus has a volume of between EUR 15.0 million and EUR 22.5 million. The Braunschweig-based IT distributor plans to primarily use the proceeds of the issue to finance its further growth.
Up to 2,500,000 new, no-par value bearer shares will be offered from a capital increase as part of the IPO. In addition, up to 350,000 further shares are available from the holdings of an existing shareholder in view of a possible overallotment ("greenshoe"). After the successful placement of the new shares, the company's share capital will total up to EUR 7,500,000. If the new shares are fully placed and if the greenshoe option is fully exercised, the free float will total 38%. Initial listing for DEVIL's shares on the Frankfurt Stock Exchange's regulated market (Prime Standard) is scheduled for May 20, 2008.
Up to 2,500,000 new, no-par value bearer shares will be offered from a capital increase as part of the IPO. In addition, up to 350,000 further shares are available from the holdings of an existing shareholder in view of a possible overallotment ("greenshoe"). After the successful placement of the new shares, the company's share capital will total up to EUR 7,500,000. If the new shares are fully placed and if the greenshoe option is fully exercised, the free float will total 38%. Initial listing for DEVIL's shares on the Frankfurt Stock Exchange's regulated market (Prime Standard) is scheduled for May 20, 2008.
