Hess AG (ISIN: DE000A0N3EJ6) joined the Prime Standard of the Frankfurt Stock Exchange on 25 October. The placement volume in shares at the IPO totaled 2,645,000. The placement price was €15.50 and the initial listing price €15.60.
LBBW Landesbank Baden-Württemberg is lead manager and is also acting as designated sponsor.
“We welcome Hess AG as the sixth company to make its exchange debut in the Prime Standard this year. The Prime Standard stands for the highest transparency in the EU-regulated market,” said Alexander Höptner, who is responsible for the Markets Services department at Deutsche Börse.
“Medium-size does not mean mediocre. Hess is a pioneer in LED street lighting. Energy-efficient lighting, especially LED technology, is in ever greater demand on the markets in Europe, Asia, the Middle East and North America. We see the IPO as an important instrument in our growth strategy. With the Prime Standard, we have found the right segment on the Frankfurt Stock Exchange to be able to reach the broadest possible group of investors with maximum transparency,” said Christoph Hess, CEO of Hess AG.
According to information from the company, Hess AG is one of the internationally established producers of external and architectural lighting. The premium provider develops and distributes “structured and functional” external lighting for streets, squares and public spaces, as well as architectural and building-related lighting. Hess products are distributed in more than 50 countries worldwide – with a growing presence on the important markets of Europe, Asia, the Middle East and America. The products are manufactured at three production locations in Germany and the USA. Hess also operates production capacities for final assembly, including in Japan and China. Hess employed an average of 360 staff during the first half of 2012.
2012 has thus far seen five IPOs in the Prime Standard and three in the Entry Standard.
