ADO Properties successfully places shares at EUR 20

ADO Properties S.A.  / Key word(s): IPO

22.07.2015 18:20

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ADO Properties successfully places shares at EUR 20
Berlin, 22 July 2015: ADO Properties S.A. ("ADO Properties" or the "Company"), a pure-play Berlin residential specialist, has set the offer price for the shares offered in connection with its initial public offering ("IPO") at EUR 20 per share. The new and existing shares were offered to institutional investors by way of an accelerated bookbuilding. At the set offer price, ADO Properties has a market capitalization of EUR 700 million.
A total of 22,825,000 shares of ADO Properties were placed, thereof 10,000,000 newly issued shares from a capital increase and 10,750,000 existing shares from the holdings of the sole and selling shareholder ADO Group Ltd. An additional 2,075,000 existing shares of ADO Group Ltd. has been allocated in connection with an over-allotment option.
The total offer volume amounts to approximately EUR 456.5 million assuming full exercise of the over-allotment option or around EUR 415 million without the over-allotment option. The Company expects to receive gross proceeds of approximately EUR 200 million from the issuance of the new shares. After the completion of the IPO, ADO Group Ltd. will remain invested in the Company with a stake of approximately 35 percent assuming full exercise of the over-allotment option or approximately 41 percent without exercise of the over-allotment option. The resulting initial free float will amount to approximately 65 percent of the Company's post IPO share capital, assuming full exercise of the over-allotment option.
The shares of ADO Properties have been admitted to start trading on the regulated market (Prime Standard) of the Frankfurt Stock Exchange under the ticker symbol ADJ (WKN: A14U78, ISIN: LU1250154413) on 23 July 2015.
About ADO Properties

ADO Properties is a pure-play Berlin-based residential real estate company with approximately 13,700 residential units, including recent acquisitions. The Company has a fully integrated, scalable in-house platform with its own property management. Along with the responsibility for the condition of its apartments and buildings, ADO Properties also assumes responsibility towards people, employees and neighborhoods. The portfolio of ADO Properties is focused on central locations in Berlin and attractive districts at the city's outskirts.

This announcement 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, Japan or in any jurisdiction to whom or in which such offer or solicitation is unlawful.
This release is not a prospectus. Investors should not purchase or subscribe for any shares referred to in this press release except on the basis of information in a prospectus to be issued by the Company in connection with the offering of such shares.

This release is not an offer of securities for sale in the United States of America. The securities referred to in this press release have not been, and will not be, registered under the US Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States absent registration or an applicable exemption from registration or in a transaction not subject to the registration requirements of the Securities Act. There will be no public offer of the securities in the United States of America.

Subject to certain exceptions under the Securities Act, the securities referred to herein may not be offered or sold in Australia, Canada or Japan or to, or for the account or benefit of, any national, resident or citizen of Australia, Canada or Japan.

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Language:     English
Company:      ADO Properties S.A.
              20 rue Eugène Ruppert
              LK-2453 Luxembourg
              Grand Duchy of Luxembourg
Phone:        +49 (0)30-403 907 900
Fax:          +49 (0)30-403 907 901
E-mail:       office@ado.immo
Internet:     www.ado.immo
ISIN:         LU1250154413
WKN:          A14U78
Listed: Regulated Market in Frankfurt (Prime Standard)  
End of Announcement DGAP News-Service