+++ Ad-hoc announcement +++
German Startups Group sells stakeholding and realises capital gains amounting toroughly 10% of its market capitalisation
Berlin, 14 June 2017 – German Startups Group realises, on the suspending condition of administrative approval, proceeds of 3.3 million euros through the sale of its stake in a holding of particular significance to the company and thus a multiple of the capital invested of 11x as well as an internal rate of return (IRR) of approximately 200% p.a. German Startups Group thereby realises capital gains versus book value of approximately 2.4 million euros or 0.20 euros per share (IFRS). A positive earnings effect and an increase in the net asset value (NAV) per share occurs to almost the same extent.
Information and explanation of the issuer on this news
The sale of the shares provides for a continued very positive development of the year after the announced sales of stakes and value gains in 2017. This is already the third major successful sale that earns a multiple on the capital invested after the exits of the mobile AdTech company Fyber in 2014 and the e-commerce startup Amorelie in 2015. For the remainder of the year, German Startups Group additionally expects sales proceeds, among others from the announced IPOs of Delivery Hero and ayondo.
Christoph Gerlinger, CEO of German Startups Group, comments, “We are very happy about our great success with the stakeholding that has now been sold. The founder team has done a great job. In our view, the upside potential in our portfolio continue to clearly exceed the risks.”
Investor Relations contact
German Startups Group
More information at https://www.sgt-germanpe.com/.