Klöckner & Co ready for listing on the stock exchange
Duisburg (ots)
The steel and metal distribution company, Klöckner & Co AG, is aiming for a listing on the Prime Standard of the Frankfurt Stock Exchange before the summer break. This will be subject to a favourable capital market environment. "We have thoroughly examined this step. A direct access to the capital market opens up additional flexibility for the future development of our company", said the Chairman of the Management Board Dr. Thomas Ludwig. The private equity firm Lindsay Goldberg & Bessemer (LGB) plans to keep approx. 50 % of the shares after the IPO.
The company will provide additional details on its IPO plans at a later date.
About Klöckner & Co:
Klöckner & Co is the largest producer-independent steel and metal distributor in the European and North American markets combined. The core business of the Klöckner & Co Group is the storage and distribution of steel and non-ferrous metals. About 200,000 active customers are supplied through approximately 240 distribution locations in 14 countries in Europe and North America.
Klöckner & Co was founded 100 years ago by Peter Klöckner. During the financial year 2005 the company achieved sales of approx. 5 billion Euros with around 10,000 employees. Klöckner & Co AG is controlled 100 per cent by Lindsay Goldberg & Bessemer (LGB).
Contacts: Peter Ringsleben, Claudia Uhlendorf - Corporate communication
Klöckner & Co AG Am Silberpalais 1 47057 Duisburg
Peter Ringsleben Tel: +49-203-307-2800 Fax: +49-203-307-5060 Email: peter.ringsleben@kloeckner.de
Claudia Uhlendorf Tel: +49-203-307-2289 Fax: +49-203-307-5103 Email: claudia.uhlendorf@kloeckner.de
These materials are not for distribution, directly or indirectly, in or into the United States (including its territories and outlying areas, any State of the United States and the District of Columbia). These materials do not constitute or form a part of any offer or solicitation to purchase or subscribe for securities. The shares in Klöckner & Co AG (the "Shares") mentioned herein may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended (the "Securities Act"). The Shares have not been, and will not be, registered under the Securities Act and will not be publicly offered anywhere outside Germany. The public offer in Germany will be made exclusively by means of and on the basis of a prospectus to be published. The securities prospectus will be available free of charge at a date yet to be specified.
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Original-Content von: Klöckner & Co SE, übermittelt durch news aktuell