AutoBank AG (ISIN: AT0000A0K1J1) joined the Entry Standard of the Frankfurt Stock Exchange on 19 November. The public offering (with prospectus) included 1,890,000 new shares. The issue price was €2.50 and the initial listing price €2.50.
The underwriter and designated sponsor is VEM Aktienbank AG, while the lead broker is Bankhaus Main AG.
“Austria alone holds wide-ranging growth potential for us”, said Gerhard Fischer, a member of Autobank’s Executive Board. “And being around ten times larger, the German market also offers interesting prospects.”
“We are delighted that AutoBank has chosen the Entry Standard as its market segment”, said Barbara Georg, Head of Listing & Issuer Services at Deutsche Börse. “The Entry Standard belongs to the exchange-regulated Open Market and enables equities to be admitted to trading easily, quickly and cost-effectively. It opens the door to the capital market for businesses.”
New entrants to the Frankfurt Stock Exchange in 2010 by segment are: Prime Standard 8, General Standard 10, Entry Standard 16, Open Market 133.