Luther advises Steico SE on capital increase

Luther Rechtsanwaltsgesellschaft advised the construction materials group Steico on a capital increase with an issue proceeds of around 25 million euros.

The new shares were offered for sale to institutional investors in Germany and other European countries as part of an accelerated bookbuilding process. Thanks to the high demand, the order book was closed prematurely. Commerzbank and ODDO BHF were the joint global coordinators and joint bookrunners in the transaction.

The gross proceeds of Steico SE from the capital increase amount to approximately 25 million euros. The new shares were included in the existing listing in the m: access quality segment of the open market on the Munich Stock Exchange on September 25, 2017. The company intends to use the funds from the capital increase to finance its further growth.

About Steico

Steico SE, headquartered in Feldkirchen (Bavaria), develops, produces and sells ecological building products made from renewable raw materials. The company is the European market leader in the segment of wood fibre insulating materials. Steico employs around 1,400 people and in 2016 generated sales of around 208.9 million euros.

www.steico.com

For Steico

Luther, Capital Market Oriented Corporate Law: Stephan Gittermann (Lead Partner), Stefan Jokel (both Frankfurt am Main)

Advice to Commerzbank and ODDO BHF

Ashurst: Matthias von Oppen (Lead partner), Dr. Ian Maywald, Joanna Wilczynska-Gluch (all Frankfurt am Main