FranconoWest

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FranconoWest AG
legal form Corporation
Seat Dusseldorf , Germany
management Hans-Ulrich Sutter
Website www.franconowest.de

The FranconoWest AG is an investment company which specializes in investment in residential real estate. The Franconofurt subsidiary went public on November 13, 2007 on the Prime Standard of the Frankfurt Stock Exchange , although Franconofurt was to retain a stake of at least 50 percent in the company.

The shares of the minority shareholders were later transferred to the main owner TAG Immobilien AG in return for cash compensation of EUR 1.33 per share, as was already decided at a general meeting in August. TAG is now the sole owner. FranconoWest officially ceased listing on October 27, 2011.

history

The company was founded in Frankfurt am Main on October 1, 2001 as FRIMAG Erste Vermögensverwaltungsgesellschaft mbH . June 20, 2006, the company moved to the legal form of a joint stock company and thereby changed his company in FranconoInvest AG . The name was changed again on October 17 of the same year; in FranconoWest AG . On January 12, 2007, the company relocated from Frankfurt to Düsseldorf .

On November 11, 2007, the shares in the IPO were issued at € 1.80 at the lower end of the bookbuilding range of € 1.80 to € 2.20. The initial listing was already below this.

On July 2, 2009, the Management Board of FranconoWest AG resolved, based on the authorization of the Annual General Meeting on May 20, 2009, to purchase up to 10,000,000 shares in the company as part of a public offer.

The issue price was no longer reached until the listing on November 28, 2011. As a result of the offer mentioned, there was a judicial dispute, the result of which the appraiser appointed by the Düsseldorf Regional Court calculated a unit value of € 1.10 with regard to the squeeze-out of the free shareholders, so that the shareholders with the last bid of € 1.33 were court-proof could be resigned.

Individual evidence

  1. ↑ Franconofurt AG: Price range and start of subscription for the planned IPO of the holding company FranconoWest AG has been determined , dgap.de
  2. ↑ [1]
  3. ↑ FranconoWest AG resolves share buyback offer July 2, 2009.
  4. ↑ [2]
  5. ↑ reports Rölfs RP AG on 19 July 2011. Online only accessible via google, but triggers a spam blockage by WP. So here's a dead link: Online (PDF; 342 kB)