Brief: Paragon says subsidiary Voltabox AG plans to go public in autumn 2017
11/09/2017 06:25
Sept 11 (Reuters) - PARAGON AG PGNG.DE :
* ELECTRO MOBILITY SUBSIDIARY VOLTABOX AG PLANS TO GO PUBLIC
IN AUTUMN 2017
* PROCEEDS FROM PLANNED IPO ARE TO SUPPORT CONTINUED
SYSTEMATIC DEVELOPMENT OF VOLTABOX'S PRODUCTS, EXPANSION OF ITS
PRODUCTION CAPACITIES AND REPAYMENT OF A SHAREHOLDER LOAN TO
PARAGON AG
* VOLTABOX PLANS TO ISSUE 5 MILLION NEW SHARES PLUS A
GREENSHOE OPTION OF 0.825 MILLION SHARES FROM A CAPITAL INCREASE
* ADDITIONALLY, ANOTHER 0.5 MILLION SHARES CURRENTLY OWNED
BY PARAGON AG ARE TO BE PLACED
* EXPECTED POST-IPO FREE FLOAT WILL BE APPROXIMATELY 40%
* PARAGON AG WILL REMAIN COMPANY'S MAJORITY SHAREHOLDER, A
ROLE IT DOES NOT INTEND TO RELINQUISH IN FORESEEABLE FUTURE
Source text for Eikon: ID:nEQ21FRsPa
Further company coverage: PGNG.DE
(Gdynia Newsroom)
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