DGAP-News: ADC African Development Corporation GmbH & Co. KGaA / Key
word(s): IPO
ADC African Development Corporation moves to Prime Standard on 27 May
2011
23.05.2011 / 19:21
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The shares of ADC African Development Corporation (ADC), ISIN DE000A1E8NW9,
a rapidly growing financial services group focusing on the frontier markets
of sub-Saharan Africa (SSA), are anticipated to be listed in the Prime
Standard segment of the Frankfurt Stock Exchange beginning on 27 May 2011.
Up until now, ADC's shares have been traded in the Open Market/Entry
Standard.
Approval of the corresponding prospectus for admission to trading has been
received from the German Federal Financial Supervisory Authority (BaFin).
On that basis, 4,000,000 shares of class ISIN DE000A1E8NW9 are expected to
be included in trading in the Prime Standard of the Frankfurt Stock
Exchange. The 3,646,150 shares of class ISIN DE000A1E8HU5 that preceded the
IPO, which have so far not been tradeable, will also be listed in the Prime
Standard starting as of that date. This class of shares is being
consolidated with the tradeable class ISIN DE000A1E8NW9 such that, after
consolidation, all 7,646,150 shares of ADC will be included in trading in
the Prime Standard of the Frankfurt Stock Exchange. At a current price of
around EUR 9, ADC's market capitalisation presently amounts to about EUR 70
million, with a free float of approximately EUR 51 million.
'By being listed in the Prime Standard, we shall be subject to the highest
German transparency requirements in future,' notes Olaf Meier, Managing
Director of ADC African Development Corporation. 'Particularly for
investments in Africa, this is an important advantage for our investors.
With ADC, they get German transparency and corporate governance,
particularly in the form of ad hoc announcements, disclosure of directors'
dealings and quarterly reports in German and English, while at the same
time participating in the above-average growth and great opportunities
afforded by the frontier markets of sub-Saharan Africa.'
++ About ADC
ADC African Development Corporation, ISIN DE000A1E8NW9 (ticker symbol:
AZC.GR), was established in September 2007 and quickly positioned itself as
one of the leading investors for banks and insurance companies in the
above-average growth markets of Sub-Saharan Africa. The company's success
is primarily due to its local management team, which follows international
best practice principles to further develop banks and implements
conventional international processes to increase their profitability. As
the second international emerging market investor in the world, ADC was
integrated into the insurance solution offered by the Multilateral
Investment Guarantee Agency ('MIGA'), a member of the World Bank Group,
primarily due to its strong operational approach and adherence to the
highest ethical standards. This insurance offers protection against a
variety of political risks, in particular the risk of radical political
change.
Contact:
Olaf Meier
Member of the Board
investor-relations@african-development.com
T +49 69. 719 12 80 123
End of Corporate News
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23.05.2011 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: ADC African Development Corporation GmbH & Co. KGaA
Grüneburgweg 18
60322 Frankfurt/Main
Deutschland
Phone: +49 69 719 12 80 00
Fax: +49 69 719 12 80 011
E-mail: info@african-development.com
Internet: www.african-development.com
ISIN: DE000A1E8NW9
WKN: A1E8NW
Listed: Freiverkehr in Berlin; Open Market (Entry Standard) in
Frankfurt
End of News DGAP News-Service
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125855 23.05.2011
DGAP-News: ADC African Development Corporation moves to Prime Standard on 27 May 2011
| Source: EQS Group AG