QSIL AG
QSIL AG announces details on initial public offering
Corporate news transmitted by DGAP – a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
——————————————————————————
QSIL AG announces details on initial public offering
– Offering of up to 2,650,750 shares
– Initial listing planned for mid-November
Langewiesen, 02 November 2006: QSIL AG Quarzschmelze Ilmenau, one of only a
few manufacturers of fused quartz in the world, has announced the details
of its planned initial public offering. According to the disclosure, the
Company plans to offer up to 2,650,750 shares (including over-allotment
option). 1,000,000 of the shares stem from a capital increase, 1,305,000
from the holdings of the current shareholders, and 345,750 from the
holdings of one current shareholder for purposes of a potential
over-allotment. QSIL AG’s share capital prior to the initial public
offering is divded into 5,000,000 no-par value shares.
The initial listing in the Prime Standard sub-segment of the Official
Market (Amtlicher Markt) of the Frankfurt Stock Exchange is expected to
take place in mid-November. The offering price for the shares will be set
by way of a so-called decoupled bookbuilding, which means that the price
range will not be established until during the course of the roadshow. A
total issue volume in the mid to upper double digit million figure range is
expected. UniCredit Markets & Investment Banking is to act as lead manager
and sole bookrunner. Other underwriters include DZ Bank AG and equinet
Securities AG.
Currently, 60% of QSIL’s shares are owned by private equity firm Ventizz
Capital Partners, whose most recent achievements include the listings of
ErSol Solar Energy AG and SAF Simulation AG in the Prime Standard segment
of the Frankfurt Stock Exchange. 40% of the shares are held by SEMENTIS, in
which the CEO of QSIL AG, Stephan Behr, indirectly holds an 80% interest.
After the IPO, free float will be around 44%, assuming that the
over-allotment option is exercised in full. This would reduce Ventizz’s
interest to approximately 25% and that of SEMENTIS to approximately 31%.
Ventizz is subject to a six-month lock-up period from the date the shares
are admitted to trading, while SEMENTIS has a lock-up of 12 months, plus an
additional six months thereafter, during which time SEMENTIS is prohibited
from selling any of its shares or conducting any transactions deemed the
economic equivalent thereof without the consent of the Lead Manager.
The purpose of the planned initial public offering is to finance the
Company’s growth. The proceeds from the IPO are to be used to expand
production capacities, construct a raw materials treatment plant,
commission a chemical laboratory for quality control, possibly make
strategic acquisitions and to expand sales operations, in particular by
establishing a sales office in Asia.
About QSIL:
QSIL AG Quarzschmelze Ilmenau is one of only a few manufactures of fused
quartz in the world and specialised on the production of round geometries
and custom-made products out of fused quartz. The range of products extends
from fused quartz hollow cylinders, tubes, staves and profiles to process
reactors with large diameters and products processed via glass-blowing.
Most important markets are, in addition to the semiconductor industry, the
lighting industry, the chemical industry in the sector of chemical
analysis, uses of high temperature processes and the polysilicon production
for the semiconductor and photovoltaic industry. QSIL’s customer basis is
globally diversified. Customers are inter alia international companies from
Europe, Asia and the United States of America.
QSIL was founded in 1992, but commenced its industrial production of fused
quartz as part of Ilmenauer Glaswerke GmbH already in 1977. The company’s
Head Office and production site is in Langewiesen (near Ilmenau), as well
as a sales office in the United States of America. Per 30 June 2006 the
company engaged about 100 employees. In fiscal year 2005, QSIL generated
sales of about 11.1 million euros and EBITDA of about 2.7 million euros
(EBITDA margin 39.9 percent).
This publication does not constitute an offer to sell or a solicitation of
an offer to buy or subscribe for any securities. No offer of securities of
QSIL AG Quarzschmelze Ilmenau is being or will be, made to the public
outside Germany. The offer in Germany is being made exclusively on the
basis of the securities prospectus which has been published and filed with
the Bundesanstalt für Finanzdienstleistungsaufsicht. Any decision to invest
in the securities of QSIL AG Quarzschmelze Ilmenau offered should solely be
based on the securities prospectus. Copies of the securities prospectus are
available free of charge at the offices of QSIL AG Quarzschmelze Ilmenau,
at the offices of the underwriting banks and at the admission office of the
Frankfurt Stock Exchange.
This publication and the information contained therein is not for
distribution or publication, neither directly nor indirectly, in or into
the United States of America, Canada, Australia or Japan.
This publication does not constitute an offer for sale of any securities
into the United States. Securities, including any shares of QSIL AG
Quarzschmelze Ilmenau in the course of the offer, may not be offered or
sold in the United States or to, or for the account or benefit of, US
persons (as such term is defined in the Regulation S under the Securities
Act of 1933 as amended (the ‘Securities Act’) unless they are registered
under the Securities Act or exempt from registration. There will be no
registration or public offer of any securities of QSIL AG Quarzschmelze
Ilmenau in the United States.
(c)DGAP 02.11.2006
—————————————————————————
Latest News
Latest Reports
No Reports found
Upcoming Events
No Events found
Webcasts
No Webcasts found