Lotto24 AG: Successful Listing in the Prime Standard
Lotto24 AG / Key word(s): IPO Lotto24 AG: Successful Listing in the Prime Standard Online lottery broker starts trading at initial share price of EUR 3.00 (Hamburg, July 3, 2012) Following its successful spin-off from Tipp24 SE, the shares of Lotto24 AG [LO24] were quoted today for the first time in the Prime Standard segment of the Frankfurt Stock Exchange. Trading started at an initial share price of EUR 3.00. The initial share price was thus 20 percent higher than the offer price of EUR 2.50 per share at which Tipp24 SE shareholders had subscribed to a capital increase of Lotto24 AG. The offer price of EUR 2.50 per share also corresponded to the calculated value of the dividend in kind which allocated one Lotto24 share to every Tipp24 share. Petra von Strombeck, Chief Executive Officer of Lotto24 AG and Magnus von Zitzewitz, Chief Financial Officer, celebrated the IPO in the morning on the trading floor in Frankfurt. Petra von Strombeck commented: 'We are delighted to have set, with today's listing, the foundation for an independent and promising future for Lotto24 AG in the German lottery business. We are confident that Lotto24 will benefit from the liberalization of the online lottery brokerage in Germany as of July 1, 2012 and will successfully establish itself in the market.' The IPO of Lotto24 AG has been the first IPO of a German business in the Prime Standard segment in 2012. The successful placement of the capital increase with gross proceeds of approximately EUR 15 million has also so far been the only German IPO of this year in which the entire offer volume was placed. Lotto24 AG was separated from the Tipp24 group through a spin-off and listed on the stock exchange as an independent company. The company focuses on the brokerage of state lotteries in Germany.
About Lotto24 AG: Lotto24 AG was founded by Tipp24 SE in 2010 in order to resume the commercial brokerage of state lotteries in Germany. Until February 2012, it was mainly concerned with preparing its market entrance. Disclaimer: This announcement constitutes neither an offer to sell securities nor a solicitation to submit an offer to buy securities. The shares which were offered through the IPO of Lotto24 AG have been fully placed. This announcement constitutes neither an offer to buy securities nor a solicitation to submit an offer to buy securities in the United States, Canada, Australia or Japan in the United States, Canada, Australia or Japan. The shares of Lotto24 AG (the 'Shares') may not be offered or sold in the United States, nor to US persons (as defined by Regulation S of the US Securities Act of 1933, as amended (the 'Securities Act')) nor for the account of US persons, unless they are registered or are exempt from registration pursuant to the Securities Act. The Shares are not and will not be registered in accordance with the Securities Act. The information contained in this announcement may not be distributed in the United States, nor to US persons, nor in Canada, Australia or Japan. Press contact:
FTI Consulting End of Corporate News Photos will be distributed by mecom-bildkanal and available at http://newsfeed2.equitystory.com/lotto24/176408.html Caption: Lotto24: Petra von Strombeck und Magnus von Zitzewitz 03.07.2012 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
Language: | English | |
Company: | Lotto24 AG | |
Straßenbahnring 11 | ||
20251 Hamburg | ||
Germany | ||
Phone: | +49 (0)40 8 222 39 0 | |
Fax: | +49 (0)40 8 222 39 70 | |
E-mail: | office@lotto24.de | |
Internet: | www.lotto24-ag.de | |
ISIN: | DE000LTT0243 | |
WKN: | LTT024 | |
Listed: | Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart | |
End of News | DGAP News-Service |
176408 03.07.2012 |