DGAP-News: flatexDEGIRO AG / Key word(s): Miscellaneous
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High interest in flatexDEGIRO placement, aiming for MDAX listing
- Strong operational execution and solid development of the capital market strategy generates high interest of blue-chip investors in 5-times oversubscribed private placement at ca. 4.5% discount
- Limited supply of only 650k shares shows high commitment of selling shareholders
- Increasing free float market capitalization will support massively the aimed MDAX listing latest by the end of the year
Frankfurt/Main - Today, the DEGIRO founders and shareholders of flatexDEGIRO AG (WKN: FTG111, ISIN: DE000FTG1111, Ticker: FTK.GR) have sold 650,000 shares in a private placement. During the recent weeks, flatexDEGIRO, Europe's largest and fastest-growing retail online broker, has received a high number of inquiries from global blue-chip institutional investor. The strong development of the operational business, the investable market capitalization, the highest liquidity of all SDAX shares, as well as the potential opportunities resulting from the upcoming expiration of the lock-up period in July on the DEGIRO founders' shareholdings has put the Company on the radar of large funds.
"With respect to the high interest we have seen in our company and the expiring lock-ups end of July 2021, we have tested the willingness of the DEGIRO founders in potentially selling shares. We were informed that the supply is very limited, due to already existing collar structures and all liquidity needs being fully satisfied. However, the DEGIRO founders agreed to sell a limited number of shares to support us in further increasing our free float market capitalization and liquidity with respect to the aimed MDAX listing latest end of the year as well as to allow more top-notch institutional investors to come in", said Frank Niehage, CEO of flatexDEGIRO AG.
After the placement, the DEGIRO founders are left with a total shareholding of roughly 16 percent, excluding any shares that have already been brought into collar structures (see voting right announcements). Since the DEGIRO acquisition, the selling shareholders are under contractual lock-up until 28 July 2021 which was waived by the Company for all shares offered in this placement.
About flatexDEGIRO AG
With more than 1.25 million customers and over 75 million securities transactions in 2020, flatexDEGIRO is the largest retail online broker in Europe. In a time of bank consolidation, low interest rates and digitalization, the flatexDEGIRO Group is ideally positioned for further growth. Within the next five years, flatexDEGIRO aims to grow its customer base to 7-8 million customers, settling at least 250-350 million transactions per year - even in years with low volatility.
02.07.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
60327 Frankfurt / Main
+49 (0) 69 450001 0
Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime Standard), Hamburg, Munich, Stuttgart, Tradegate Exchange
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