- Listing envisaged on the regulated market segment of the Frankfurt Stock Exchange (Prime Standard)
- Greater flexibility for the ProCredit group to capture attractive growth prospects
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA OR JAPAN.
ProCredit Holding AG & Co. KGaA (ProCredit Holding) today announced its intention to pursue a listing on the regulated market segment of the Frankfurt Stock Exchange (Prime Standard) in the coming months. The stock market listing is aimed at increasing the general flexibility of ProCredit Holding in obtaining access to new shareholders that would like to participate in the company’s growth plans. The current shareholders support the envisaged listing. No offering of shares in ProCredit Holding will be made in connection with the intended listing.
As a profitable, development-oriented commercial banking group for small and medium-sized enterprises (SMEs), the ProCredit group is exposed to the highly attractive and growing banking markets of South Eastern and Eastern Europe. The group is headquartered in Frankfurt/Main and also operates in Germany and in South America. It pursues a mission of promoting sustainable development with an ethical corporate culture and long-term business relationships. The group has demonstrated a track record of consistently high loan portfolio quality and has been profitable every year since its creation as a banking group in 2003.
Borislav Kostadinov, Member of the Management Board of ProCredit Holding: “The envisaged stock market listing takes the success story of ProCredit to the next level. We believe that this step will further foster our successful strategy of serving SMEs – the backbone of economic development in South Eastern and Eastern Europe – as their ‘Hausbank’. We are confident that the stock market listing of ProCredit Holding will facilitate its access to like-minded investors since we strive to broaden and further strengthen our international investor base.”
From 2013 to 2015, the ProCredit group increased its return on average equity (RoAE) from 7.7 % to 10.5%. As of 30 September 2016, the group’s total assets amounted to EUR 6.0 billion, the total outstanding loan volume was EUR 3.6 billion and customer deposits stood at EUR 3.3 billion.
Joh. Berenberg, Gossler & Co. KG acts as the listing agent for ProCredit Holding AG & Co. KGaA. Econnoa GmbH accompanies ProCredit Holding AG & Co. KGaA as the listing advisor.
About the ProCredit Group
ProCredit Holding AG & Co. KGaA, headquartered in Frankfurt am Main, Germany, is the parent company of the international ProCredit group, comprising banks with a focus on South Eastern and Eastern Europe that have specialised in serving SMEs. The group is headquartered in Frankfurt/Main and also operates in Germany and in South America. The core shareholders of ProCredit Holding AG & Co. KGaA are the strategic investors Zeitinger Invest and ProCredit Staff Invest (comprising
investment vehicles for ProCredit staff members), the Dutch DOEN Foundation, KfW and the IFC (World Bank Group). ProCredit Holding AG & Co. KGaA is supervised, on a consolidated basis, as the superordinated company of the ProCredit Group pursuant to the German Banking Act by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdiensleistungsaufsicht, BaFin) and by the Deutsche Bundesbank. For additional information, visit: www.procredit-holding.com.
Andrea Kaufmann, Group Communications, ProCredit Holding, Tel: +49 69 95 14 37 138, e-mail: Andrea.Kaufmann@procredit-group.com
This announcement and the information contained herein is not intended for, and is not to be made available to, persons in the United States of America (the “United States”), Australia, Canada or Japan or to persons in any other jurisdiction in which such distribution or release would be unlawful.
This announcement does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities, neither in the United States, Australia, Canada, Japan nor in any jurisdiction regardless of whether such an offer or solicitation would be unlawful or not.
Any securities discussed in this announcement have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or under any applicable securities laws of any state, province, territory, county or jurisdiction of the United States, Australia, Canada, or Japan. Accordingly, unless an exemption under relevant securities laws is applicable, any such securities may not be offered, sold, exercised, transferred, delivered or distributed, directly or indirectly, in or into the United States, Australia, Canada, or Japan or any other jurisdiction if to do so would constitute a violation of the relevant laws of, or require registration of such securities in, the relevant jurisdiction. Any public offering of securities would be contained in an offering prospectus that would contain detailed information about the issuer and the offered securities, including a discussion of risks, the issuer’s business and relevant financial information.
This announcement is not a prospectus. In the event of a listing, a listing prospectus will be published promptly upon its approval by the German Federal Financial Supervisory Authority. Following publication, copies of such listing prospectus will be available from the website of ProCredit Holding AG & Co. KGaA (“ProCredit Holding”) at https://www.procredit-holding.com/en/investor-relations.html. Such listing prospectus would relate solely to the admission to trading of the entire share capital of ProCredit Holding on the regulated market segment of the Frankfurt Stock Exchange with simultaneous admission to the sub-segment thereof with additional post-admission obligations (Prime Standard) of the Frankfurt Stock Exchange. It will not be approved for use as an offering prospectus in Germany or any other jurisdiction, and it is not intended to be and does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in any jurisdiction.
The distribution of this announcement may be restricted by law in certain jurisdictions and persons into whose possession any document or other information referred to herein comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.
This announcement may include statements that are, or may be deemed to be, “forward-looking statements”. These forward-looking statements may be identified by the use of forward-looking terminology, including the terms “believes”, “estimates”, “plans”, “projects”, “anticipates”, “expects”, “intends”, “may”, “will” or “should” or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. Forward-looking statements may and often do differ materially from actual results. Any forward-looking statements reflect ProCredit Holding’s current view with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to ProCredit Holding’s business, results of operations, financial position, liquidity, prospects, growth or strategies. Forward-looking statements speak only as of the date they are made. Both ProCredit Holding and Joh. Berenberg, Gossler & Co. KG, and their respective affiliates, expressly disclaim any obligation or undertaking to update, review or revise any forward looking statement contained in this announcement whether as a result of new information, future developments or otherwise.
The information contained in this announcement is for background purposes only and does not purport to be full or complete. No reliance may be placed for any purpose on the information contained in this announcement or its accuracy or completeness. The information in this announcement is subject to change.