Capital market law experts Dr. Mirko Sickinger, Partner at Heuking Kühn Lüer Wojtek's Cologne office, and lawyer Tobias Nagel advised World Markets AG on a capital increase with subscription right of the shareholders of up to EUR 25 million. The client was advised, in particular, on drafting a securities prospectus and its coordination with the German Financial Supervisory Authority (BaFin) as requirement for the public offering of the new shares.
The subscription price is CHF 17.80. After expiry of the subscription period, the shares not subscribed by the shareholders will be placed with institutional investors. The proceeds from the issue is to be used to acquire additional biomass projects to generate CO2 certificates.
World Markets AG, headquartered at Hünenberg, Switzerland, trades in CO2 certificates. The company acquires certificates arising from sustainable projects, mainly in the forestry sector (referred to as sustainable biomass projects), finances their upgrading to the higher-value CCBS gold standard and subsequently sells the certificates at a profit. Currently, World Markets AG holds emission reduction certificates for five million tons of CO2. In September 2012, the company had additionally acquired a fund management company for USD 27 million, managing an acacia wood reforestation and cultivation project. Heuking Kühn Lüer Wojtek had already legally advised the company in 2012 on its change to Frankfurt Stock Exchange's Entry Standard.
Counsel to World Markets AG:
Heuking Kühn Lüer Wojtek, Cologne
Dr. Mirko Sickinger, LL.M. (Lead),
Tobias Nagel (both Capital Market Law),
Heuking Kühn Lüer Wojtek, Frankfurt:
Klaus Weinand-Härer (Tax Law)