TF Bank AB
TF Bank AB: Offer period for IPO starts on 07 September 2015
DGAP-News: TF Bank AB / Key word(s): IPO NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA OR JAPAN. – Offer of up to 10,400,625 ordinary shares with no nominal value within a price range from EUR 15 to EUR 19 – Gross proceeds of EUR 176.8 million (based on the middle of the price range if all offered shares are placed) expected – Offer period starts on 07 September 2015 and is expected to end on 16 September 2015; listing on the Frankfurt Stock Exchange is expected on 18 September 2015 – Existing shareholders will remain the majority shareholders after the IPO, Lock-up for five years Stockholm/Frankfurt, September 07, 2015 – TF Bank AB (together with its consolidated subsidiaries “TF” or the “Group”), a pure online and mobile bank based in Sweden, announces details of its planned IPO on the Prime Standard segment of the regulated market of the Frankfurt Stock Exchange. The Swedish Financial Supervisory Authority has approved a securities prospectus today and transmitted it together with the certificate of approval to the German Federal Financial Supervisory Authority. The offering consists of a public offering to retail and institutional investors in the Federal Republic of Germany as well as private placements outside Germany and outside the United States of America to selected institutional investors in reliance on Regulation S under the U.S. Securities Act of 1933, as amended. Offer period will start on 07 September 2015 The final offer price is expected to be determined on or about 16 September 2015, following the bookbuilding period. The listing of the shares in the Prime Standard segment of the regulated market of the Frankfurt Stock Exchange is expected to occur on or about 18 September 2015. ICF BANK AG has been appointed as Sole Global Coordinator, Sole Bookrunner and Joint Lead Manager. M.M.Warburg & CO (AG & Co.) KGaA is acting as Joint Lead Manager and DZ BANK AG as Co-Lead Manager. Issue proceeds to finance growth path Declan Mac Guinness, CEO of TF, embraces the planned IPO as a great opportunity for further growth: “With the IPO proceeds we want to finance further growth. The additional equity puts us into the position to triple the volume of our current loan portfolio. Given our profitability and encouraging market prospects, we are aiming for strong, continued growth across Europe. This possibility is driven naturally by the growth of the E-Commerce sector, but even more through our various partnerships that give us access to new customers. In particular, our joint venture with Intrum Justitia, Avarda, provides us with strong growth possibilities and the ability to leverage significant cross selling potentials to newly acquired customers with our existing product portfolio.” Strong commitment from existing shareholders If all new and existing shares are placed in the offering (including the greenshoe option), the free float will amount to 42.45% post IPO, while existing shareholders will keep the majority stake in TF Bank AB. The major shareholders, who currently hold approximately 95% of the issuing company, have agreed to a 60 month lock-up period, which is split into a hard lock-up for 30% of all outstanding voting rights in the company post IPO and a soft lock-up for another 20% of all outstanding voting rights in the company. Successful track record and two profitable business segments The approved prospectus is available for download on the Company’s website https://www.tfbankgroup.com/ . About TF Bank AB TF is an online and mobile bank which offers consumer finance products directly to retail customers and offers e-commerce solutions to merchants in seven countries in Northern Europe, the Baltics and Central and Eastern Europe. As at 30 June 2015, the Group had a total of 1.14 million active customers in its two segments and a combined 2.18 million user profiles for scoring in its database. TF’s banking services include unsecured loans, credit cards and savings accounts for retail customers which are insured by the Swedish deposit protection program. TF uses various distribution channels to market its products, including through partnerships and physical payment terminals. Contact
Disclaimer This press release does not contain or constitute an offer of, or the solicitation of an offer to buy or subscribe for, securities to any person in the United States, Australia, Canada or Japan or in any jurisdiction in which such offer or solicitation is unlawful. The securities referred to herein may not be offered or sold in the United States absent registration under the US Securities Act of 1933, as amended (the “Securities Act”), or an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. The securities referred to herein may not be offered or sold in the United States of America, Australia, Canada or Japan or to, or for the account or benefit of, any national, resident or citizen of the United States of America, Australia, Canada or Japan. The offer and sale of the securities referred to herein has not been and will not be registered under the Securities Act or under the applicable securities laws of Australia, Canada or Japan. There will be no public offer of the securities in the United States. This press release is directed at and/or for distribution in the United Kingdom only to (i) persons who have professional experience in matters relating to investments falling within article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or (ii) high net worth entities falling within article 49(2)(a) to (d) of the Order (all such persons are referred to herein as “relevant persons”). This press release is directed only at relevant persons. Any person who is not a relevant person should not act or rely on this press release or any of its contents. Any investment or investment activity to which this press release relates is available only to relevant persons and will be engaged in only with relevant persons. This information is not a prospectus pursuant to the applicable capital market rules in Sweden or Germany. Any investment decision must be made solely on the basis of the information contained in the prospectus as approved by the Swedish Financial Supervisory Authority and duly published. A prospectus pursuant to Swedish securities laws has been approved by the Swedish Financial Supervisory Authority and duly published and is available electronically at www.tfbankgroup.com and in printed form at Ryssnäsgatan 2, Borås, alternatively Norrlandsgatan 7-9, Stockholm, Sweden, during normal business hours and can be obtained there free of charge until and including the date of admission. The prospectus is the only binding offering document in connection with the offering of the Company’s securities. The information contained herein is not binding. 2015-09-07 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. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
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