Capital News
TAG Immobilie has been authorized by its shareholders to continue buying back its own stock. According to the real estate company, at their extraordinary meeting the shareholders authorised the company to continue buying back its shares. The motion passed gave authorisation to a framework of redemption of up to ten percent of capital by 12 June 2019. At the present time the high availability of shares sets a limit on the amount of stock that may be bought back. However, it is deemed possible that its shares become less plentiful with the new authorisation, perhaps through cancelling its own stock. After last Autumn’s 122 million Euro share buyback, the Hamburg-based MDAX-listed company is confident of the strategies to adopt to regain prosperity.
SYGNIS: Fresh capital for operations
The medical technology company SYGNIS AG successfully completed a rights issue and private placement in mid December 2014. The 2.475.678 new shares were allocated in cash for two Euros per share in its entirety. The Prime Standard company's basic capital rose to 13.3 million Euros. The shares left unsubscribed by existing shareholders – the offer was 13:3 – were then offered to investors from Germany and elsewhere, selected within a private placement. SYGNIS intends to make use of the gross issue proceeds of almost five million Euros to strengthen the operative business and product portfolio. The medical technology company specializes in the manufacture and marketing of products for DNA amplification and sequencing.
German pellets: bond new entry
A new SME issue has reached the bond market. Prime Standard-listed pellet manufacturer German pellets has reached target volume of 100 million Euros in a bond issue after a trading launch in November 2014. Similarly to this company’s previous bond issues, the coupon is 7.25% with a 5-year maturity. Differently from previous issues, however, this bond is listed among the Prime Standards. 74 million Euros of the gross proceeds came from new investors, and 26 million come from the conversion of a first German Pellet bond that matures in 2016.
Furthermore, German Pellets reported an increase in third quarter group turnover of some 380-393 million Euros over last year. The company, also reported an increase in EBITDA to 37 million Euros compared to 32 million Euros for the same period last year.