JOST Werke AG, corporate

JOST Werke AG:

12.07.2017 - 08:35:20

JOST Werke AG:. JOST Werke AG,

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN.

JOST sets price range for planned private placement at EUR25.00 to EUR31.00 per share

Bookbuilding to start on 12 July 2017 and expected to end on 19 July 2017 Placement of up to 5,200,000 new shares and up to 2,915,000 existing shares Trading on Frankfurt Stock Exchange is expected to commence on 20 July 2017 Price range implies market capitalization of approximately EUR381 million to EUR441 million

Neu-Isenburg, 12 July 2017. JOST Werke AG ("JOST"), a leading global producer and supplier of safety-critical systems to the truck and trailer industry, has set the price range for its planned private placement at EUR25.00 to EUR31.00 per share (the "Private Placement"). JOST's shares will only be placed with institutional investors in certain jurisdictions in Europe, North America and elsewhere. The Private Placement will commence on 12 July 2017 and is expected to end on 19 July 2017. Trading in JOST's shares on the regulated market (Prime Standard) of the Frankfurt Stock Exchange (Frankfurter Wertpapierbörse) is expected to commence on 20 July 2017 (the "Listing"). There will be no public offering of JOST's shares in connection with the Listing.

The Private Placement will consist of up to 5,200,000 newly issued ordinary bearer shares from a capital increase and of up to 2,915,000 existing ordinary bearer shares from the holdings of its existing shareholder. In addition, up to 1,141,000 ordinary bearer shares from the holdings of its existing shareholder may be placed with investors in connection with a potential over-allotment. The final placement price and the final number of JOST's shares placed in the Private Placement will be determined on the basis of a bookbuilding process.

Lars Brorsen, Chief Executive Officer of JOST, said: "We have successfully grown our business over the past years and further expanded our leading market positions worldwide. Access to the capital markets will further support our growth trajectory and facilitate our investments in strategic areas such as autonomous docking systems."

JOST is targeting gross proceeds of at least EUR130 million from the sale of the new shares and a free float of around 50% (assuming no exercise of the Greenshoe Option) of JOST's shares upon commencement of trading on the Frankfurt Stock Exchange. JOST intends to use the net proceeds from the Private Placement to repay existing financial indebtedness as well as for general corporate purposes. The existing shareholder of JOST intends to partially divest its stake. Based on the price range the market capitalization of JOST upon commencement of trading would amount to approximately EUR381 million to EUR441 million.

Deutsche Bank, J.P. Morgan and COMMERZBANK are acting as Joint Global Coordinators and Joint Bookrunners. BNP Paribas acts as additional Joint Bookrunner. Rothschild is acting as independent financial advisor to JOST.Press contact:JOST Group Tobias Schmidt Corporate & Business Strategy T: +49 (0)6102 295-251 tobias.schmidt@jost-world.com

FTI Consulting Dr. Lutz Golsch T: +49 (0)69 92037-110  M: +49 (0)173 6517710  lutz.golsch@fticonsulting.com  Steffi Susan Kim T: +49 (0)69 92037-115 M: +49 (0)171 5565996 steffi.kim@fticonsulting.com  

About JOST:

JOST is a leading global producer and supplier of safety-critical systems to the truck and trailer industry. JOST offers branded quality products clustered in three systems: Vehicle Interface (focusing on products required to operate a commercial vehicle combination of trucks and trailers such as fifth wheels and landing gears), Handling Solutions (including container technology and hydraulic cylinders products) and Maneuvering (focusing on truck and trailer axles and forced steering). As the number one supplier of fifth wheels and landing gears globally, JOST is the market leader for Vehicle Interface systems. JOST's global leadership position is driven by the strength of its brands, by its long-standing client relationships serviced through its global distribution network as well as by its efficient and asset-light business model. JOST's core brands "JOST", "Rockinger", "TRIDEC" and "Edbro" are well-recognized in the industry and highly regarded for their quality and continuous innovation. With its global distribution network and production facilities in thirteen countries across five continents, JOST has direct access to all major truck and trailer manufacturers and relevant end customers. JOST currently employs about 2,700 members of staff worldwide.

Disclaimer

This announcement does not contain or constitute an offer of, or the solicitation of an offer to buy or subscribe for, securities to any person in the United States of America, Australia, Canada, Japan or in any jurisdiction to whom or in which such offer or solicitation is unlawful. Furthermore, this announcement is an advertisement and not a prospectus. Investors should not purchase or subscribe for any shares referred to in this announcement on the basis of the information contained herein.

This release is not an offer of securities for sale in the United States of America. Securities may not be offered or sold in the United States of America absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended (the "Securities Act"). In the United States of America, the securities will be offered and sold only to "qualified institutional buyers" as defined in Rule 144A under the Securities Act. Outside the United States of America, the securities will be offered and sold in reliance on Regulation S under the Securities Act. There will be no public offer of the securities in the United States of America.

Neither JOST nor its shareholder intends to make any public offer of shares in JOST Werke AG in the United States, Germany or any other jurisdiction. It is only intended that shares will be placed with qualified investors and less than 150 non-qualified investors per EEA member state in the Federal Republic of Germany and certain other jurisdictions and subsequently admitted to trading on the regulated market segment (regulierter Markt) of the Frankfurt Stock Exchange with simultaneous admission to the sub-segment of the regulated market with additional post-admission obligations (Prime Standard) of the Frankfurt Stock Exchange. The Listing will be made on the basis of a prospectus that will be published in Germany following approval of the German Financial Supervisory Authority (BaFin). The prospectus will be available free of charge from the JOST's website www.jost-world.com.

In any EEA Member State that has implemented Directive 2003/71/EC (together with any amendment and any applicable implementing measures in any Member State, the "Prospectus Directive") this communication is only addressed to and is only directed at qualified investors in that Member State within the meaning of the Prospectus Directive.

In the United Kingdom, this announcement is only being distributed and is only directed at persons who (i) are investment professionals falling within article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order") or (ii) are persons failing within article 49(2)(a) to (d) of the Order (all such persons are referred to herein as "Relevant Persons"). This announcement is directed only at Relevant Persons. Any person who is not a Relevant Person should not act or rely on this announcement or any of its contents. Any investment or investment activity to which this announcement relates is available only to Relevant Persons and will be engaged in only with Relevant Persons.

In connection with the Private Placement, Deutsche Bank Aktiengesellschaft, acting for the account of the Underwriters, will act as the stabilization manager and may, as stabilization manager, make over-allotments and take stabilization measures in accordance with legal requirements (Art. 5 para. 4 and 5 of the Market Abuse Regulation (EU) No. 596/2014 in conjunction with Articles 5 through 8 of the Commission Delegated Regulation (EU) 2016/1052) to support the market price of JOST's shares and thereby counteract any selling pressure. The stabilization manager is under no obligation to take any stabilization measures. Therefore, stabilization may not necessarily occur and may cease at any time. Such measures may be taken on the Frankfurt Stock Exchange (Frankfurter Wertpapierbörse) from the date when trading in the shares of JOST is commenced on the regulated market segment (regulierter Markt) of the Frankfurt Stock Exchange (Frankfurter Wertpapierbörse) and must be terminated no later than 30 calendar days after this date (the "Stabilization Period"). Stabilization transactions aim at supporting the market price of JOST's shares during the Stabilization Period. These measures may result in the market price of JOST's shares being higher than would otherwise have been the case. Moreover, the market price may temporarily be at an unsustainable level.

 

12.07.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

Language: English

Company: JOST Werke AG Siemensstraße 2 63263 Neu-Isenburg

Germany ISIN: - Listed: Regulated Market in Frankfurt (Prime Standard) Notierung vorgesehen / Designated to be listed   End of News DGAP News Service

591853  12.07.2017 

@ dgap.de

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