NORMA Group AG (ISIN: DE000A1H8BV3) joined the Prime Standard of the regulated market on the Frankfurt Stock Exchange on 8 April. A total of 18.4 million no-par value registered ordinary shares were offered in the IPO. The issue price was €21.00 and the initial listing price €21.50.
Lead managers are Commerzbank, Deutsche Bank und Goldman Sachs International, which are also assuming the role of designated sponsors. bid & ask Financial Services is lead broker.
“NORMA Group AG is the fourth new company we have the pleasure of welcoming to the Prime Standard in 2011,” said Alexander Höptner, Head of Markets Services at Deutsche Börse. “In the Prime Standard, companies also have to fulfil the highest international transparency requirements and attract considerable investor attention.”
“The aim of the IPO is to enable the NORMA Group to continue on its successful growth path – and to accelerate it,” said CEO Werner Deggim. “The NORMA Group intends to use the proceeds from the planned capital increase to pay back some of its financial liabilities and to strengthen its financial flexibility to promote further organic growth and expansion through acquisition.”
The NORMA Group manufactures and sells engineered joining technology solutions in three product categories: clamp, connect and fluid; supplying 35,000 products to some 10,000 customers in 80 countries, according to company sources.
New entrants to the Frankfurt Stock Exchange in 2011 per segment: Prime Standard 4, General Standard 3, Entry Standard 6, Open Market 72.