DGAP-News: Weng Fine Art AG / Key word(s): Miscellaneous
Weng Fine Art AG develops its activities on capital markets: Share
will trade on Xetra from February on
07.01.2013 / 08:00
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Weng Fine Art AG develops its activities on capital markets:
Share will trade on Xetra from February on
From 4 February 2013 Weng Fine Art AG (WFA) shares are no longer only be
traded in Frankfurt, but also on 'Xetra', which is the electronic platform
of Deutsche Börse. The Designated Sponsoring on Xetra will be taken over by
WGZ BANK, who will become the new capital market partner of the art
dealership that has been listed in Frankfurt for over a year.
'With the inclusion in Xetra trading, we are responding to the interest
from important investors, as well as meeting a requirement for getting WFA
shares included in the Entry Standard performance index,' CEO Rüdiger K.
Weng explains, and considers the cooperation with WGZ BANK full of
confidence: 'We are delighted to have attracted a major bank specializing
in German medium-sized companies as a capital market partner, particularly
as we are already collaborating with them on the credit side.'
At the end of last year, WFA has also parted with their remaining holdings
of shares in Berlin-based Artnet AG. The off-market trade that had already
been agreed on within the context of the attempted takeover of Redline
Capital Management during summer 2012 has been executed at a price of
5,00-5,50 EUR, which is significantly higher than the current market price
of the Artnet share. The payment from this transaction is expected before
the end of 2013. At the same time, however, WFA hopes that the operator of
the world's leading internet art portal can cope with its current economic
problems and will support Artnet, if necessary and appropriate.
With a capital gain of 307 percent since the listing on 2 January 2012, WFA
was the strongest performing share on the entire Frankfurt Stock Exchange
last year! The presentation 'WFA Highlights 2012' available on the
company's website (www.wengfineart.com) gives a first impression of what
has been achieved in 2012: a selection of the company's best trades -
including works by Andy Warhol, Gerhard Richter and Paul Gauguin -
generated an average profit of over 100 percent and illustrates the
successful move to the high-priced market segments.
Preliminary figures for the financial year ending 31 January and a detailed
explanation of the further growth strategy are expected to be published by
WFA in about two months time. .
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ABOUT WENG FINE ART AG
Weng Fine Art AG (www.wengfineart.com) is one of the fastest-growing,
internationally active art traders on the European continent. The company
uses a B2B model, focusing on trading more than 500 blue chip artists from
the 20th century. Important clients are, beside others, Sotheby's,
Christie's and Phillips. The retail market is served by its 100% subsidiary
Weng Fine Art Editions GmbH that offers worldwide on various platforms,
multiple works of art by some of the most important contemporary artists.
Weng Fine Art AG shares are traded on the Frankfurt Stock Exchange (Entry
Standard) since 2 January 2012.
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CONTACT DETAILS
Weng Fine Art AG
Rüdiger K. Weng, Vorstand
Kimplerstrasse 294 | D-47807 Krefeld
Telefon +49(0)2151 93713-0 | Telefax+49(0)2151 93713-29
E-Mail weng@wengfineart.com | Internet www.wengfineart.com
End of Corporate News
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07.01.2013 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: Weng Fine Art AG
KimplerstraÃe 294
47807 Krefeld
Germany
Phone: 02151 937130
Fax: 02151 93713-29
E-mail: art@wengfineart.com
Internet: www.wengfineart.com
ISIN: DE0005181606
WKN: 518160
Listed: Open Market (Entry Standard) in Frankfurt
End of News DGAP News-Service
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198334 07.01.2013
DGAP-News: Weng Fine Art AG develops its activities on capital markets: Share will trade on Xetra from February on
| Source: EQS Group AG