Corporate News
Corestate Capital Holding S.A.’s free float is expanded by 14%
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, JAPAN OR AUSTRALIA OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL OR TO U.S. PERSONS. THIS ANNOUNCEMENT DOES NOT CONSTITUTE OR FORM AN OFFER OF SECURITIES IN THE UNITED STATES OR ANY OTHER JURISDICTION.
PRESS RELEASE 20 September 2017
Corestate Capital Holding S.A.’s free float is expanded by 14%
Ralph Winter, Founder of Corestate, (through Flygon Holding LLC) and Christof Meyer today announced that they followed the high demand from institutional investors and Corestate’s ambition to increase liquidity by launching an accelerated bookbuilding process of, each, 1.5 million shares (the „Transaction“).
This represents together about 14% of Corestate’s issued share capital, resulting in Ralph Winter remaining shareholding post transaction of about 29% and Christof Meyer post transaction of about 2%.
Ralph Winter comments:
Corestate released a strong financial outlook for 2018 very early this year. This outlook is based on an 85% recurring fee income which gives a high predictability for the future. The forecast does not include any further acquisition opportunities of asset managers. I am very confident that Corestate’s Management Team will outperform expectations, as they always did in the past. The demand of institutional investors is extremely high, and in connection with the expected Prime Standard Listing this step shall enable the share price to positively develop and to compare closer to Corestate’s Peer Group. I will continue to heavily support Corestate‘ s growth strategy and my long-term interest is to remain Corestate’s largest shareholder.
Joh. Berenberg, Gossler & Co. KG („Berenberg“) will be acting as Sole Bookrunner in the Transaction. The Transaction is subject to certain customary conditions precedent.
The information was submitted for publication at 17:40 CET on 20 September 2017 by Flygon Holding LLC and Christof Meyer.