Berlin's Hypoport celebrates its Stock Exchange debut
Geschrieben am 30-10-2007 |
-------------------------------------------------------------------------------- ots.CorporateNews transmitted by euro adhoc. The issuer is responsible for the content of this announcement. --------------------------------------------------------------------------------
stock market/Listing
Berlin, 30/10/2007 (euro adhoc) - Shares in the financial services group Hypoport AG commenced trading for the first time yesterday on the Frankfurt Stock Exchange. The listing of 6,043,610 shares took place in the Prime Standard segment, the highest level of transparency of the Frankfurt Bourse, with the first listing quoted at E15.25. Prof. Dr. Thomas Kretschmar, Hypoport founder and Co-CEO, commented: "We are delighted with this first step along the path toward opening up our group to the capital markets. Our intention with the stock market listing is to widen the current shareholder base and convince other potential investors about our story." The Hypoport management board at the start of October took the decision to apply for a stock market listing without a public offering of shares. "Our aim is to use the current opportunity to establish ourselves on the public market and to drive our operating growth even further," added Hypoport Co-CEO Ronald Slabke.
Hypoport is an internet-based financial services provider encompassing two parts: marketing and distribution of financial services products, and B2B electronic financial marketplaces. Within the group's financial services arm, the subsidiary Dr. Klein provides independent financial advisory via the internet and, if desired, through telephone or face-to-face consultancy. The product offering stretches from real estate financing via insurance products, through to provision of bank accounts. In its B2B financial marketplaces component, Hypoport has, with EUROPACE, established an online proprietary financial marketplace in Germany, on which numerous banks and financial service product suppliers are networked into several thousand financial intermediaries and distributors. "The integration of the two areas within one group and the synergies that result from this make Hypoport into a financial services provider of a new kind," Kretschmar adds.
Hypoport generated turnover of E19.02 million in the first half of the current year, representing a rise of 92.1% against the same period in 2006 (full year 2006: E26.29 million). Profit before interest and taxes in first half 2007 climbed still more strongly to E3.25 million, reversing a fractional loss in first half 2006 (full year 2006: E4.62 million) and generating the best result in the group's history.
The stock market listing took place on the basis of a securities memorandum approved by the German financial regulator BaFin. This is available for download in German and English in the investors relations section of the Hypoport AG internet site. Members of Hypoport's management and supervisory boards, and their relatives, own 64.29% of the total issued equity capital of the group. A further senior shareholder is the German Post Office's Postbank subsidiary, holding 9.93%. The remaining 25.78% of the stock is owned by small shareholders. Revenia GmbH, the holding company headed by Hypoport Co-CEO Ronald Slabke, the Kretschmar Family Trust chaired by Hypoport Co-CEO Prof. Dr. Thomas Kretschmar, and Postbank, all intend to remain long-term investors in the company subsequent to the stock market listing. They have made a mandatory undertaking for a period of 12 months after first stock listing not to offer for sale, without the prior consent of the accompanying consortium banks, any Hypoport shares or financial instruments based on them. Landesbank Baden-Württemberg has been mandated to execute designated sponsoring in the XETRA trading of Hypoport shares on the stock market. Shares will be traded under the number ISIN DE0005493365, the securities registration number (WKN) 549336, and the stock market code HYQ.
About Hypoport AG The Hypoport Group situated in Berlin is an internet based one stop financial services provider. The business model of the Hypoport Group comprises of two interdependent units, direct sales of financial products and the maintenance of its in house developed transaction platform for the brokerage of financial products via the internet.
Dr. Klein & Co. AG, Hypoport's wholly owned subsidiary, offers retail clients a comprehensive variety of financial products from giro accounts, insurances to mortgage loans via the internet and, if requested, offers advice both over the telephone or face-to-face. Dr. Klein & Co. AG chooses the most suitable products for the clients from a broad selection of more than 100 well-known banks and insurances, strictly conforming to the best advice principle. The internet driven processes generate cost advantages which are passed on to the retail clients, providing Dr. Klein a significant competitive advantage against local banks and insurance agencies. Furthermore the business division Real Estate Business Clients of Dr. Klein & Co. AG, which has been operating since 1954, is the undisputed market leader in the brokerage of mortgage solutions to the municipal and cooperative housing industry.
The Hypoport Group maintains with its B2B financial marketplace EUROPACE the biggest German web based transaction platform for the clearing of financial products. A fully integrated system links more then 30 banks with over 1.000 brokers and enables immediate and direct placement of financial products. The highly automated processes of the platform result in significant cost advantages. Momentarily over 400 applications are processed via EUROPACE daily. Additionally EUROPACE is the leading source for surveillance, research and analysis of European ABS transactions.
DISCLAIMER This publication does not constitute an offer to sell or a solicitation of an offer to buy or subscribe for any securities. No offer of securities of Hypoport AG is being, or will be, made to the public outside Germany. A prospective offer in Germany would be made exclusively by means of a securities prospectus to be published and filed with the Bundesanstalt für Finanzdienstleistungsaufsicht. Such securities prospectus would at the appropriate time made available free of charge at the offices of Hypoport AG and at the offices of the underwriting banks. This publication and the information contained therein is not for distribution or publication, neither directly nor indirectly, in or into the Unites States of America, Canada, Australia or Japan. This publication does not constitute an offer for sale of any securities into the United States. Securities, including any shares of Hypoport AG in the course of a prospective offer, may not be offered or sold in the United States or to, or for the account or benefit of, US persons (as such term is defined in Regulation S under the Securities Act of 1933 as amended (the "Securities Act")) unless they are registered under the Securities Act or exempt from registration. Neither Hypoport AG nor any potential selling shareholders intend to register a prospective offer, or any part thereof, in the United States or to make a public offer of securities in the United States.
end of announcement euro adhoc 30.10.2007 17:03:32 --------------------------------------------------------------------------------
ots Originaltext: Hypoport AG Im Internet recherchierbar: http://www.presseportal.de
Further inquiry note: Karen Niederstadt Group Communications Director Telefon: +49(0)30 42086-1930 E-Mail: karen.niederstadt@hypoport.de
Branche: Financial & Business Services ISIN: DE0005493365 WKN: 549336 Börsen: Börse Frankfurt / regulated dealing/prime standard
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