SUMMIQ AG

  • ISIN: DE000A2YPH73
  • Land: Deutschland

Nachricht vom 22.11.2019 | 15:53

SUMMIQ AG: IPO offer period commences on 25 November

DGAP-News: SUMMIQ AG / Key word(s): IPO
22.11.2019 / 15:53
The issuer is solely responsible for the content of this announcement.

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NOT FOR RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE OR DISTRIBUTION WOULD BE UNLAWFUL. OTHER RESTRICTIONS ARE APPLICABLE. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.

SUMMIQ AG: IPO offer period commences on 25 November

  • SUMMIQ expects gross proceeds between EUR 75 million and EUR 100 million from the offering of a total of up to 10,000,000 new shares at a fixed price of EUR 10.00 per share
  • Offer period to commence on 25 November 2019 and expected to end on 5 December 2019
  • First day of trading on m:access expected on 11 December 2019
  • Proceeds of the offering to be used primarily to acquire green power projects from secured project pipeline

Munich, 22 November 2019 - SUMMIQ AG (the "Company" or "SUMMIQ") published the securities prospectus for its IPO today, with the offer period commencing on 25 November 2019. The offering will be comprised of 7.5 million to 10 million newly issued, registered shares with no par value, from a capital increase, aiming for total gross proceeds of between EUR 75 million and EUR 100 million. At the same time an additional listing of 50,000 existing shares from current shareholder Green City AG ("Green City") is planned. Following the IPO, Green City is expected to hold less than 1 % of the Company's post-IPO share capital. The period during which investors may submit purchase orders will commence on 25 November 2019 and is expected to end on 5 December 2019.

Dr Torsten Amelung, CEO of SUMMIQ, explains: "SUMMIQ is a fast-growing independent European green power producer, covering the full value chain from the acquisition of energy projects to the marketing of the energy produced. This business model offers both steady long-term revenues and at the same time generates possible upsides by selling electricity on the free market at increasing prices due to growing demand. In our view, the improvements of cost in solar and wind power generation offers a unique market opportunity to a player like us acquiring a portfolio of new, efficient renewable energy projects therefore benefiting from lower generation costs."

The company will use the net proceeds from the offering primarily to acquire renewable energy projects. Purchase contracts have been signed for three initial projects, which are already operational and will be transferred conditional, inter alia, on a successful IPO. A further nine projects from an already secured project pipeline are expected to be acquired within the year 2020. Together, these projects represent a total generation capacity of 190 megawatts ("MW") of onshore wind and photovoltaic projects. The projects are located in the four core markets Germany, Italy, France and Spain. SUMMIQ is expecting to acquire further renewable energy projects from additional phases of the secured pipeline, and is planning to reach a total generation capacity in its portfolio of about 1 GW within five years.

The company will acquire, finance and operate onshore wind and solar projects with capacities mainly between 5 and 50 MW in the core countries Germany, Italy, Spain and France. In the Company's view, these medium-sized projects have the advantage of a diversified portfolio generating renewable energy from different sources and permitting comparably low generation costs estimated at approximately 0.05 EUR/kWh on average for the entire portfolio. SUMMIQ is building up its portfolio of renewable energy projects following a clear investment policy and without having to take material project development risks. SUMMIQ offers investors an opportunity to participate financially in the European energy transition. The Company acquires only renewable energy projects that are already in operation or renewable energy projects for which the use of land and all material public permits required for the construction and operation of the projects have been obtained or are imminent to be granted ("Ready-to-Build"). SUMMIQ is planning to invest at least 80 % of its portfolio in onshore wind and photovoltaic power generation projects, with up to 20 % being in invested in other types of renewable energy (e.g. hydro) or new technologies (e.g. storage). SUMMIQ intends to invest in projects to achieve an internal rate of return ("IRR") on portfolio level of between 6% - 8% p.a. after leveraging.

SUMMIQ intends to list the shares on the m:access segment of the Munich Stock Exchange under the German securities code (WKN) A2YPH7, the international securities identification number (ISIN) DE000A2YPH73 and the trading symbol S7Q. 11 December 2019 is expected to be the first day of trading. A lock-up agreement of 36 months will be concluded for the existing shareholder Green City AG and for the members of the management board of SUMMIQ AG.

M.M.Warburg & CO (AG & Co.) KGaA is acting as sole Global Coordinator and sole Bookrunner.

Further information about SUMMIQ is available at www.summiq.com. The securities prospectus is also available on SUMMIQ's website.
 

Contact

cometis AG
Claudius Krause
Unter den Eichen 7
65195 Wiesbaden
Germany

Phone: +49 (0) 611 20 585528
E-Mail: krause@cometis.de


cometis AG
Matthias Kunz
Unter den Eichen 7
65195 Wiesbaden
Germany

Phone: +49 (0) 611 20 585564
E-Mail: kunz@cometis.de
Further information

www.summiq.com
 

Company profile

SUMMIQ is establishing a growing portfolio of wind and solar power projects in Europe. The aim is to build up a digitally managed gigawatt portfolio in order to be able to profitably market electricity from renewable energies in the future and provide it in line with demand. SUMMIQ pursues a strategic cooperation approach with Green City AG, a German developer of renewable energy projects. This cooperation enables SUMMIQ to invest in an existing project pipeline with an output of several hundred megawatts by 2021.

SUMMIQ focuses on the development and operation of a portfolio of wind and solar power projects balanced according to regions and technologies as well as electricity storage facilities in the European core markets of Germany, France, Italy and Spain in the medium term. SUMMIQ aims to become an independent, integrated and strongly growing European electricity producer with long-term predictable cash flows and a product with increasing demand: renewable energy.

Important Notice:

This announcement does not contain or constitute an offer to sell nor a solicitation to buy or subscribe for securities.
This announcement is not a prospectus. Potential investors should not purchase or subscribe for any securities referred to in this announcement except on the basis of the information contained in the prospectus issued by the Company in connection with the public offering of such securities (including any supplements thereto). The German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, BaFin) has approved the prospectus. Copies of such prospectus are available free of charge from SUMMIQ AG, Munich, Germany, as well as, for viewing in electronic form, on the website of the Company www.summiq.com. The approval of the prospectus by BaFin should not be understood as an endorsement of the securities referred to in this announcement. Potential investors are recommended to read the prospectus before making an investment decision in order to fully understand the potential risks and rewards associated with the decision to invest in the securities referred to in this announcement.
This announcement is not an offer of securities for sale in the United States of America (the "United States"). Securities may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended (the "Securities Act"). The Issuer does not intend to register any portion of the offering in the United States or to conduct a public offer of the securities in the United States.
This publication is only addressed to and directed at persons in member states of the European Economic Area (other than Germany) who are "qualified investors" within the meaning of Article 2 lit. (e) of the Prospectus Regulation (Regulation (EU) 2017/1129 ) ("Qualified Investors").
In the United Kingdom, this information is directed at and/or for distribution only to (i) investment professionals falling within article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order"), or (ii) high net worth companies falling within article 49(2)(a) to (d) of the Order (all such persons are collectively referred to herein as "relevant persons"). The securities are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this information or any of its contents.
Subject to certain exceptions under the respective securities laws, the securities referred to herein may not be offered or sold in Australia, Canada or Japan or to, or for the account or benefit of, any national, resident or citizen of Australia, Canada or Japan.
Some of the information in this announcement may contain projections or other forward-looking statements regarding future events or the future financial performance of the Company. You can identify forward looking statements by terms such as "expect," "believe," "anticipate," "estimate," "intend," "will," "could," "may" or "might," or, in each case, the negative of such terms or other similar expressions. We wish to caution you that these statements are only predictions and that actual events or results may differ materially. We do not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, general economic conditions, our competitive environment, risks associated with our industry, as well as many other risks specifically related to the Company and its operations.



22.11.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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