Ströer Out-of-Home Media AG / IPO

14.07.2010 03:24

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DGAP - a company of EquityStory AG.
The issuer / publisher is solely responsible for the content of this announcement.

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Cologne, July 13th, 2010

Ströer Out-of-Home Media AG Places Shares at an Issue Price of EUR20.00

  - Issue volume including overallotment at around EUR393.9 million

  - Ströer receives EUR275 million from capital increase before deduction
    of IPO expenses

  - Offer at issue price oversubscribed several times

Ströer Out-of-Home Media AG ('Ströer'), one of the leading providers of
outdoor advertising in Europe, headquartered in Cologne, Germany, together
with its syndicate banks today fixed the issue price in the IPO for its
offered shares at EUR20.00 per share. A total of around 19.7 million shares
will be placed, including 13.75 million new shares from a capital increase,
around 4.16 million shares from selling shareholder Cerberus, and around
1.79 million shares from overallotments of the syndicate banks granted by
Ströer through a Greenshoe option. Accordingly, the total issue volume,
including full overallotments, amounts to approximately EUR393.9 million.
Before deduction of the IPO expenses, Ströer will receive EUR275 million
from the capital increase. Upon full exercise of the Greenshoe option in a
further capital increase from authorized capital, Ströer would receive an
additional EUR35.8 million in gross proceeds. Shares in Ströer shall be
traded for the first time on the regulated market (Prime Standard) of the
Frankfurt Stock Exchange on Thursday, July 15, 2010, under stock ticker
symbol SAX.


The offer was oversubscribed several times at the issue price.
Approximately 99 percent of the shares were placed with institutional
investors in Germany and abroad. The remaining one percent of the shares
was allocated to private investors in Germany and Luxembourg. Due to the
oversubscription, purchase offers from private investors could not be
served fully in the allocation process. Therefore, private investors will
receive 60 percent of their respective orders, rounding numbers down to a
whole share. The maximum allocation for private investors amounts to 1,000
shares for each investor. Allocation to private investors will be conducted
in full accordance to criteria equal for all syndicate banks and their
associated institutions. The shareholders Udo Müller (co-founder and Chief
Executive Officer) and Dirk Ströer (member of the supervisory board and son
of second co-founder Heinz Ströer) as well as Alfried Bührdel (Chief
Financial Officer), have subscribed to a total of 258,680 shares valued at
approximately EUR5.2 million at the issue price.

'We are delighted with the high demand for our shares. Twenty years after
our company was founded, the IPO marks yet another significant milestone
for Ströer. As one of the largest outdoor advertising companies in Europe,
we are herewith continuing our successful course and further increasing the
overall significance of out-of-home advertising,' said Udo Müller.

'As a result of the IPO, we have in our view set ideal conditions for
accelerating our growth and taking full advantage of future opportunities.
We plan to use the issue proceeds to finance both the stake increase in our
Turkish joint venture Ströer Kentvizyon and the acquisition of News Outdoor
Poland while realizing previously announced product innovations. By
lowering our debt level and thereby optimizing our capital structure, we
are simultaneously enhancing our financial flexibility,' added Alfried
Bührdel.

Following the IPO, Udo Müller and Dirk Ströer will hold a combined stake of
about 54.9 percent in Ströer upon the Greenshoe option being fully
exercised. Around 0.1 percent will be held by CFO Alfried Bührdel after the
IPO. The free float will amount to approximately 44.9 percent. Ströer has
committed itself to comply with market protection agreements and
limitations on disposal (lock-up) for a period of six months after the
initial listing. The shareholders Udo Müller and Dirk Ströer as well as
Alfried Bührdel have each entered into corresponding agreements with the
syndicate banks for a period of 12 months. The International Securities
Identification Number (ISIN) is DE0007493991, and the German securities
code number (WKN) is 749399.


About Ströer 
Ströer Out-of-Home Media AG is a specialist for all forms of outdoor
advertising - ranging from classic posters, advertising in waiting areas
and mass transit to digital and interactive media. The company markets over
280,000 advertising spaces and is one of the leading out-of-home
advertisers in Europe: In terms of sales revenue, Ströer is the leader in
its core markets of Germany, Turkey and Poland (following the acquisition
of News Outdoor Poland). In these markets the company provides its clients
with extensive networks for nationwide advertising campaigns. The Ströer
Group has some 1,400 employees at over 60 locations. The company's
portfolio comprises a variety of different outdoor advertising products. In
terms of advertising media and street furniture, the company values top
quality, innovation and superior design. With its products, Ströer sets new
standards of design of public spaces. Ströer street furniture has already
received 26 international awards. More information about the company is
available at www.stroeer.com

Disclaimer
This press release does not constitute an offer for the sale of securities
in the United States of America, Canada, Australia, Japan or in any other
jurisdiction in which an offer is subject to legal restrictions. The
securities named in this press release may be sold or offered for sale in
the United States of America only with prior registration under the
provisions of the U.S. Securities Act of 1933 ('Securities Act'), as
amended, or in the absence of prior registration only on the basis of an
exemption. Subject to certain exemptions in accordance with the Securities
Act, the securities named in this announcement may not be sold or offered
for sale in Australia, Canada or Japan or for the account of Australian,
Canadian or Japanese residents. There is no registration of the offer or
the sale of the securities named in this announcement according to the
respective legal requirements of Canada, Australia and Japan. There will be
no public offer of securities in the United States of America.

This press release is solely for advertising purposes and does not
constitute a prospectus. Interested investors should make their investment
decision in regard to the securities named in this announcement solely on
the basis of information in a prospectus published by the company in
connection with this offer and approved by the German Federal Financial
Supervisory Authority (BaFin). This securities prospectus is available free
of charge from Ströer Out-of-Home Media AG (Ströer Allee 1, 50999 Cologne,
Germany) or on the website www.stroeer.com.

This press release contains forward-looking statements based on current
expectations and assumptions by the management of Ströer Out-of-Home Media
AG according to the best information available. Forward-looking statements
are subject to known and unknown risks, uncertainties and other factors
that can lead to the results of operations, profitability, performance or
the profits of Ströer Out-of-Home Media AG deviating significantly from the
results of operations, profitability, performance or the profits as
expressly described in these forward-looking statements or to be implicitly
assumed from them. In view of these risks, uncertainties and other factors,
the recipient of these materials should not place undue reliance on these
forward-looking statements. Ströer Out-of-Home Media AG undertakes no
obligation to update these forward-looking statements and to conform them
to future events and developments.



Press contact: 
Ms Petra Kaiser
Ströer Out-of-Home Media AG
Corporate Communication
Ströer Allee 1 | D-50999 Cologne
Telephone: +49 (0)2236 - 96 45-246
Fax: +49 (0)2236 - 96 45-6246
E-Mail: pkaiser@stroeer.de

IR contact: 
Stefan Hütwohl
Ströer Out-of-Home Media AG
Director Group Finance and Investor Relations 
Ströer Allee 1 | D-50999 Cologne, Germany 
Phone: +49 (0)2236 / 96 45-338  
Fax: +49 (0)2236 / 96 45-6338  
E-Mail: ir@stroeer.de




14.07.2010 Ad hoc announcement, Financial News and Press Release distributed by DGAP.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language:     English
Company:      Ströer Out-of-Home Media AG
              Ströer Allee 1
              50999 Köln
              Deutschland
Phone:        +49 (0)2236.96 45 0
Fax:          +49 (0)2236.96 45 299
E-mail:       info@stroeer.com
Internet:     www.stroeer.de
ISIN:         DE0007493991
WKN:          749399
 
Notierung vorgesehen / intended to be listed
 
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