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30/06/2017 14:02:59
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Börse Frankfurt News

Noratis AG IPO on Frankfurt Stock Exchange

The portfolio developer of residential real estate had a successful going public in Prime Standard today. First price was €18.75, issue price €18.75. The issue volume of the IPO was €17.25 million.
30 June 2017. FRANKFURT (Börse Frankfurt). Noratis AG(ISIN DE000A2E4MK4) is listed in the Segment Scale of the Frankfurt Stock Exchange now.

The initial listing price was €18.75; the issue price €18.75. The IPO was accompanied by ICF Bank, which is also acting as a designated sponsor for Xetra trading and as the specialist on the Börse Frankfurt venue.

According to information provided by the company, Noratis AG is a portfolio developer of residential real estate. The company located in Eschborn near Frankfurt acquires properties with development potential across Germany, mostly housing estates, employee housing and quarters from the 1950s to 1970s in cities with more than 10,000 inhabitants or on the outskirts of urban areas. After acquisition, Noratis performs an intensive value enhancement of the properties and subsequently sells them in block sales or individually as condominiums. Since 2014, Noratis has successfully completed 14 projects with more than 1,300 residential units. In fiscal year 2016, the company generated revenues of €44.6 million.

30 June 2017, © Deutsche Börse AG

Oliver C. Smiths (Supervisory Board Chairman, Noratis AG), Igor Christian Bugarski (CEO, Noratis AG), Edgar Pigoznis (major shareholder of Noratis AG).

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