Preparation and costs of issue
| Own issue (Private Placement) |
Third party issues (Introcution to the stock exchange by an issuing bank) |
|
| Preperation | - Annual accounts; interim balance - Corporate planning - Calculation of profits |
- Expert’s report of fixed and current assets - Annual accounts, certified by an auditor - Extensive due dilliegence to determine the issue price |
| Issuing and salesprospectus | Preparation of the prospectus | Preparation of the prospectus |
| Costs for processing issues | As agreed | € 250.000 to € 750.000 |
| Shares | Depending on financing instrument | Printing of the shares to be issued |
| Bank Consortium | None | Meetings and negotiations on the compilation of the bank consortium; with syndicate agreement |
| Selling commissions | Appr. 7-10 % of the placement volume in consideration of the agio paid by the investor | Appr. 10-15% of the placement volume (no additional agio of the shareholder) |
| Print material | Costs for marketing and printing the issuing material (prospectus, advertising material etc.) | Costs for marketing and printing the issuing material (prospectus, advertising material etc.) |
| Stock exchange listing | None; no costs | Costs of the listing |
| Estimated preparation time | Appr. 6-12 weeks | Appr. 6-8 months |