The price range for the offered shares is between EUR 15.60 and EUR 19.60 per share. The final offer price will be determined based on a book building process. The shares shall be listed for the first time on May 09, 2018.
Hans Szymanski, CEO and CFO of NFON AG: “The planned IPO is an important milestone for us. NFON is well positioned to benefit from the ongoing disruption in the European business communications market. We are shaping the future of business telephony and are excited about continuing our successful growth story as a listed company.”
The number of shares offered will depend on the offer price. Depending on the final offer price, between 2,551,020 and 3,205,128 new shares will be issued in order to achieve the envisaged EUR 50 million gross proceeds out of the capital increase.
The Company intends to use the expected net proceeds of EUR 47.3 million to finance further growth. NFON intends to use around EUR 15 to 20 million to invest in the continued regional expansion in Europe with a particular focus on France, Italy, Belgium and Luxembourg and to expand the business in the Netherlands.
In addition EUR 10 to 15 million will be allocated to R&D such as product development with the aim of rolling-out additional services and solutions. Moreover, EUR 10 to 15 million shall be used for marketing activities to drive penetration of existing customers and attract new customers in the markets, in which NFON is already present. Further EUR 5 to 10 million will be used for possible mergers and acquisitions.
A twelve-month lock-up period will apply for the Company and the existing shareholders as well as for shares acquired by Management in the IPO.
The decision regarding the exact number of shares to be placed and the offer price is expected to be made on May 08, 2018.