|Not for publication or distribution in the United States of America
• Successful IPO of hotel.de - Issue volume of around Euro 18.5 million
Nuremberg/Frankfurt, 20.10.2006. The shares of hotel.de AG have been successfully placed at an issue price of Euro 21.50. Trading of hotel.de’s shares on the Regulated Market (General Standard) of the Frankfurt Stock Exchange commenced on Friday, 20 October. The transaction was managed by UniCredit Markets & Investment Banking (Bayerische Hypo- und Vereinsbank AG) as Global Coordinator and Sole Bookrunner. Due to the high quality of demand from German and international institutional investors, the offer was oversubscribed.
Institutional investors in Germany and abroad and private investors in Germany were able to subscribe shares during the offer period from 16 October to 19 October. The offering consisted of up to 862,500 shares, of which up to 750,000 shares derived from a capital increase. Up to 112,500 shares came from the holdings of existing shareholders in connection with an over-allotment. The total volume of the offering (including over-allotment) amounts to around Euro 18.5 million. hotel.de AG will receive net proceeds of around Euro 15.1 million from the capital increase. These funds are mainly used for the company’s expansion into other European countries. The market capitalisation of hotel.de based on the issue price amounts to around Euro 80.6 million.
The shares of hotel.de were offered in a public offering in Germany, as well as by means of a private placement to institutional investors in selected European countries. Of the offered shares, around 15 percent were allocated to private investors in Germany and around 85 percent to institutional investors in Germany and other countries.
The allocation of shares to private investors in connection with the offering was made in accordance with the “Principles governing the allocation of share issues to private investors” issued by the stock market expert commission at the Federal Ministry of Finance on 7 June 2000. Each private investor submitting a purchase order via Bayerische Hypo- und Vereinsbank AG was granted an allocation amounting to 90% of the respective order. Within the framework of an employee participation programme, employees of hotel.de subscribed around 1% of the offered shares.
In the event of the greenshoe option being exercised, which may be undertaken by UniCredit Markets & Investment Banking (Bayerische Hypo- und Vereinsbank AG) within 30 calendar days following the initial stock exchange listing, the existing shareholders of the company will proportionately sell up to 112,500 shares. Should the greenshoe option be exercised in full, the free float will amount to 23 percent.
As of 20 October, the shares of hotel.de AG are listed on the Regulated Market (General Standard) of the Frankfurt Stock Exchange under the ticker symbol HTL and the international security identification number (ISIN) DE 0006910938.
“The success of our IPO means that we now have the financial scope to roll out our successful business model, which has already made us one of the leading online hotel reservation systems for business customers, on an international basis as well,” commented Dr. Raufer, CEO of hotel.de AG. “Our medium-term objective is to become the leading hotel reservation platform in Europe, especially for business customers.”
Admission applied for: Regulated Market / General Standard; Frankfurt Stock Exchange
ISIN: DE 0006910938
Stock market ticker: HTL
|The Information contained herein does not constitute any offer for sale or subscription of or solicitation or invitation of any offer to buy or subscribe for any securities. Securities would solely be offered on the basis of a prospectus or other offering circular to be issued by the company in connection with such offering and to be lodged with the Federal Financial Supervisory authority. Any such prospectus or offering circular would be available free of charge as of a date yet to be determined from the hotel.de AG or HypoVereinsbank.
The material set forth herein is for informational purposes only and is not intended, and should not be construed, as an offer of securities for sale into the United States. The securities of hotel.de AG described herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or the laws of any State, and may not be offered or sold within the United States or to or for the account of U.S. persons (as such term is defined in Regulation S of the Securities Act), except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable State laws. Hotel.de AG does not intend to register any portion of the offering in the United States or conduct a public offering of securities in the United States.