Congatec to price IPO of 4.18 million ADS between $10.00 and $12.00

Bookrunners Stifel and Needham, co-managers Canaccord, JMP to assist

By Devika Patel

Knoxville, Tenn., Nov. 4 – Congatec Holding AG will sell 4.18 million American Depositary Shares in its initial public offering with a 30-day greenshoe of 818,236 additional ADS, according to a Form S-1/A filed Wednesday with the Securities and Exchange Commission. The company has registered up to $64.4 million of stock for the deal, which was announced on Oct. 14. Selling shareholders will offer 1,274,988 additional ADS.

The ADS, which each represent one-quarter of an ordinary share, will be sold at a price expected to fall between $10.00 and $12.00 per ADS.

Stifel and Needham & Co. are the bookrunning managers; Canaccord Genuity and JMP Securities are the co-managers.

Proceeds will be used to expand operations and for general corporate purposes.

The technology company is based in Deggendorf, Germany. It expects the ADSs to trade on the Nasdaq under the symbol “CONG.”

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.