1. Why is Ströer going public?
The entire out-of-home market faces exciting changes. Being one of the leading out-of-home advertisers in Europe, Ströer plans to proactively drive this process. With the biggest market share in Germany in terms of revenues and with strong positions in the high growth markets of Turkey and Poland, Ströer is ideally prepared in this respect. The IPO will enable Ströer to continue and expedite its successful growth story.
2. How will the IPO proceeds be used?
Part of the proceeds generated by the IPO is to be used for the realization of strategic investments. This includes the increase of the stake in the Turkish joint venture Ströer Kentvizyon from 50 to 90 percent and the acquisition of the Polish out-of-home advertising company News Outdoor Poland. A further share of net proceeds is planned to be used for investments in organic growth of Ströer and for concrete product innovations in the field of digital outdoor advertising. In addition, the company intends to use the proceeds generated to reduce its net debt level, to optimize the capital structure and increase financial flexibility.
3. When will the IPO of Ströer take place?
The subscription period is expected to run from 5 to 13 July. The first trading day is scheduled for 15 July 2010.
4. What is the price for the Ströer share?
The offer price has been fixed at €20.00 per share.
The Selling Shareholder and the Company expect to determine the offer price together with the Joint Bookrunners, on the basis of a bookbuilding process, on July 13, 2010. The offer price will be published by means of an ad-hoc release and will be published by means of electronic media, such as Reuters or Bloomberg, and on the company’s website (www.stroeer.com). Investors, who placed their purchase offer with one of the underwriting banks, can ask their bank for the offer price and the number of allotted shares the earliest on the bank working day following the price setting. Other investors will receive this information from the bank they placed their purchase offer with.
5. Where can I buy Ströer shares?
J.P. Morgan and Morgan Stanley will be acting as joint bookrunners. The underwriters include Commerzbank, Crédit Agricole and WestLB as co-lead managers. Prospective investors can submit their purchase bids at the branch offices of these banking institutions as of July 5, 2010. Generally, it is also possible to subscribe to shares via a bank that is not represented by the underwriters.
6. Who are Ströer’s current shareholders?
Udo Müller (co-founder and CEO) and Dirk Ströer (member of the Supervisory Board and son of the second co-founder Heinz Ströer) are the main shareholders of Ströer SE.
7. What is the expected future shareholder structure and how high will the free float be?
The shareholders of Ströer, Udo Müller (co-founder and Chief Executive Officer) and Dirk Ströer (member of the supervisory board and son of second co-founder, Heinz Ströer), have not sold any shares in the IPO. Both shareholders, together with Chief Financial Officer Alfried Bührdel, have subscribed in the offering to approximately € 5 million in shares at the issue price. Following the IPO, Udo Müller and Dirk Ströer will hold the majority in the company. The free float after the IPO, upon full placement of all offered shares at the midpoint of the price range including the Greenshoe option, will amount to around 45 percent.
8. On which market will the Ströer share be listed?
Ströer is aiming for listing on the Prime Standard segment of the Frankfurt Stock Exchange.
9. What class of shares will be issued?
Ströer Media is a stock corporation under German law. The bearer shares that are the subject of this offering have no par value and a notional value of €1.00 each. They are expected to be admitted for trading in the regulated market segment (regulierter Markt) of the Frankfurt Stock Exchange and, simultaneously, in the sub-segment thereof with additional post-admission obligations (Prime Standard).
10. What does Prime Standard mean?
The Prime Standard is a share-trading segment on the Frankfurt Stock Exchange. Companies listed in this segment meet transparency requirements that go beyond those applying to all market-listed companies. Among others the following will be mandatory for Ströer:
- Preparation of quarterly reports
- Publication of a company calendar
- ad-hoc announcements in German and English
- Publication of balance sheets based on international accounting standards
- regular analyst meetings
The Prime Standard generally lists companies that wish to reach foreign investors in addition to German ones.
11. Where can I obtain more information about Ströer and its shares?
You will find information on our website at www.stroeer.com. However, any investment decision should be based on the Prospectus, which can be downloaded here
12. What is a Prospectus?
The Prospectus contains all the key information, e.g. on the shares offered, the issuer (Ströer SE), the corporate structure, business activity and financial information. The prospectus can be downloaded from this website. A printed copy can be obtained free of charge during regular business hours from the company. Please contact our investor relations team at Ströer SE, Ströer Allee 1, 50999 Cologne, Phone: +49-(0)2236-9645-127, Fax: +49-(0)2236-9645-2356, firstname.lastname@example.org.