Varengold Bank is a German bank founded in 1995 in Hamburg that maintains further locations in London and Sofia. In Marketplace Banking, Varengold supports online marketplaces that deal with the financing of companies and consumers (peer-to-peer platforms) an in the field of Transaction Banking / Commercial Banking, the bank provides foreign trade-oriented customers with basic products, such as account relationships and international payments.
In order to be able to meet the requirements for regulatory capital in the future, in particular regarding the planned expansion of the business volume, the company's share capital shall be increased. Therefore, the Company intends to use the net proceeds of the issue to strengthen its equity base and to enable further business growth.
Hamburg, 18 January 2019 – Varengold Bank AG has carried out a capital increase with indirect subscription right within a public subscription offering and a subsequent private placement. The company's share capital will be increased against cash contributions by EUR 3,105,211.00 from EUR 6,210,423.00 to EUR 9,315,634.00 by issuing 3,105,211 new shares. All shares were placed at an issue price of EUR 2.50 per share. 757,762 shares were taken up by existing shareholders in the public rights offering. In the subsequent private placement, the Management Board succeeded in acquiring further institutional investors, mainly from the financial and insurance sectors, in addition to existing investors. The new shareholders are convinced of the strategic orientation of Varengold as bank for the marketplace lending industry as well as strong provider of transaction banking products and will actively support the bank on its further journey. In addition, 65,000 shares were subscribed by the Supervisory Board member Vasil Stefanov.
The registration of the capital increase in the commercial register was done on 29 January 2019.
The Subscription Offer is addressed exclusively to existing shareholders of Varengold Bank AG and is not intended for distribution in the United States, Canada, Japan and Australia.
Registered numer of shares
Entitled ISIN / WKN
DE0005479307 / WKN 547 930
Number of new shares
ISIN / WKN for subscription right
DE000A2NBUA3 / WKN A2NBUA
23.11.2018 – 07.12.2018 (12 p.m. German time)
Subscription rights trade
No subscription rights trade
Small & Mid Cap Investmentbank AG
To avoid exclusion from the exercise of rights, the shareholders are requested to exercise their subscription right for the new shares through their custodian banks at Bankhaus Gebr. Martin AG, Göppingen, during normal business hours, who is acting as settlement agent for the Small & Mid Cap Investment Bank AG:
The custodian banks are requested to collect the subscription applications of the shareholders and to send them to the settlement agent at the latest by the end of the subscription period and to pay the subscription price of EUR 2.50 per new share to the following account of Small & Mid Cap Investmentbank AG no later than at the end of the subscription period:
Account holder: Small & Mid Cap Investmentbank AG
at: Bankhaus Gebr. Martin AG
Purpose: Capital increase Varengold Bank AG 2018
Account No.: 51657
Bank code: 610 300 00
IBAN: DE62 6103 0000 0000 051657
Essential for compliance with the deadline is in each case the receipt of the subscription application and the subscription price at the aforementioned point. Subscription rights that are not exercised in due time expire without compensation and are derecognised after the expiry of the subscription period.
The full text of the subscription offer has been published in the German Federal Gazette:
The prospectus is available for download below.
The translation of the prospectus is currently in preparation and will be available as soon as possible.
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