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Technology / AI and automation

OAR BUILDS BOOK FOR DECEMBER LISTING IN FRANKFURT

OAR Consulting AG, a German IT provider of database technologies, datawarehousing and outsourcing, is building an order book for an initial public offering leading to a listing on Frankfurt’s third-tier market, the Geregelter Markt. The operation is being handled by Concord Effekten AG, a financial institution based in Frankfurt, and bookbuilding ends tomorrow, with the first day’s trading due to take place on December 17. The price range for the issue is DM25-DM28 ($15.11-$16.93). 300,000 shares will be sold, of which 200,000 are new shares and the remainder will be put on offer by TFG, a venture capitalist which intends to retain a 16.8% stake after the IPO. With 27.1% of OAR already in the hands of the public thanks to an earlier private placement, the present operation will raise that amount to 50.4%. The company is also mulling a further issue to give liquidity to its shares prior to a move onto the more demanding Neuer Markt.

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CBR Staff Writer

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