Luther advises IFA Hotel & Touristik AG on successful capital increase with subscription rights

The capital increase of IFA Hotel & Touristik AG, which was subject to a prospectus requirement, was completed with proceeds of almost 200 million euros. A team of Luther Rechtsanwaltsgesellschaft supported the tourism company throughout the entire process - from the preparation of the Annual General Meeting to the approval of the prospectus and the successful approval procedure.

At the Annual General Meeting on 19 July 2018, IFA Hotel & Touristik AG, Duisburg, resolved to increase the company's share capital from 51,480,000.00 euros to up to 128,700,000.00 euros by issuing up to 29,700,000 new no-par value shares against cash contributions while safeguarding shareholders' subscription rights. The shares have now been fully placed with shareholders. The issue proceeds amount to almost two hundred million euros.

This resolution was contested by a shareholder. Nevertheless, the capital increase was successfully carried out within the specified period of six months after the Annual General Meeting. Luther advised the company on the preparation and conduct of the Annual General Meeting, represented it in the successful release procedure before the Düsseldorf Higher Regional Court and accompanied the implementation of the capital increase subject to prospectus requirements.

For IFA Hotel & Touristik Aktiengesellschaft:

Luther, Capital markets and banking: Dr. Jörgen Tielmann (lead), Philipp Dietz, Dr. Joachim Heinemann, Nathalie Novoselec, Volkan Top, Katja Neumüller

Luther, Real Estate: Michael Kunkel, Holger Hembach