MIFA Increases Capital for Strategic Acquisitions
SANGERHAUSEN, Germany – MIFA (Mitteldeutsche Fahrradwerke AG) has successfully concluded its cash capital increase. With a subscription ratio exceeding 99% the popularity among existing shareholders was exceptionally high.
The company’s share capital was increased by € 1.6 million, from previously € 8.0 million to € 9.6 million, whereby 1.6 million of new ordinary bearer shares were issued. All MIFA shares are listed on the Prime Standard of the Frankfurt Stock Exchange.
The company generated € 11.2 million of gross issue proceeds from the capital increase. MIFA intends to utilize the proceeds primarily to finance growth, and is planning potential strategic acquisitions both in Germany and abroad. “I am very satisfied with the capital increase’s success,” Peter Wicht, Executive Board member of MIFA. “We have broadened our shareholder structure and now enjoy a significantly higher free float of around 33%.”
E-bike growth path
“As the result of our upgrade to the Prime Standard of the Frankfurt Stock Exchange, we are now also subjecting ourselves to the highest transparency standards, making the MIFA share even more attractive for investors. Specifically, we aim to utilize the fresh capital to continue on our growth path with e-bikes and to position the Grace brand, which was acquired in March, even more strongly, particularly among young buyers.”