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BRIEF-Paragon says subsidiary Voltabox AG plans to go public in autumn 2017
September 11, 2017 / 5:27 AM / 16 days ago

BRIEF-Paragon says subsidiary Voltabox AG plans to go public in autumn 2017

Sept 11 (Reuters) - PARAGON AG:

* ELECTRO MOBILITY SUBSIDIARY VOLTABOX AG PLANS TO GO PUBLIC IN AUTUMN 2017

* ‍PROCEEDS FROM PLANNED IPO ARE TO SUPPORT CONTINUED SYSTEMATIC DEVELOPMENT OF VOLTABOX‘S PRODUCTS, EXPANSION OF ITS PRODUCTION CAPACITIES AND REPAYMENT OF A SHAREHOLDER LOAN TO PARAGON AG​

* VOLTABOX PLANS TO ISSUE 5 MILLION NEW SHARES PLUS A GREENSHOE OPTION OF 0.825 MILLION SHARES FROM A CAPITAL INCREASE

* ADDITIONALLY, ANOTHER 0.5 MILLION SHARES CURRENTLY OWNED BY PARAGON AG ARE TO BE PLACED

* ‍EXPECTED POST-IPO FREE FLOAT WILL BE APPROXIMATELY 40%​

* PARAGON AG WILL REMAIN COMPANY‘S MAJORITY SHAREHOLDER, A ROLE IT DOES NOT INTEND TO RELINQUISH IN FORESEEABLE FUTURE Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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