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Paragon AG's E-Mobility Unit Voltabox Announces IPO Price Range

paragon AG, a developer of automotive electronics, e-mobility and body kinematics, announced Monday that its Management Board approved the price range for the planned IPO of its electromobility subsidiary, Voltabox AG.

The company noted that Voltabox has set a price range of between 20 euros and 24 euros per share. The offer is to contain mainly 5 million new shares plus a greenshoe option of 0.825 million additional new shares from a capital increase of Voltabox.

Existing shareholder paragon AG will also sell an additional 0.5 million shares in the offer. Based on the assumption that all offered shares will be fully placed, the placement volume is expected to range between 126.5 million euros and 151.8 million euros. Of this, Voltabox would generate between 116.5 million euros and 139.8 million euros in gross proceeds.

paragon said it would generate between 10 million euros and 12 million euros in gross proceeds from the placement of 0.5 million shares. The expected post-IPO free float will be approximately 40%.

paragon AG intends to remain the majority shareholder of Voltabox for the foreseeable future.

Subject to the prospectus' approval by the German Federal Financial Supervisory Authority, which is expected over the course of today, the period during which institutional investors can subscribe to the offered shares is to commence on September 26 and end on October 10.

Trading in the Prime Standard segment is expected to start on October 13, 2017.

Bankhaus Lampe KG will be the sole global coordinator in the IPO and acts as joint bookrunner alongside Hauck & Aufh?user Privatbankiers AG.

by RTT Staff Writer

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