News & Press
First pension fund invests in Weng Fine Art AG
23 Aug. 2021 / Pressemitteilungen
Last week, Weng Fine Art AG (WFA) was able to reach an agreement with a German pension fund that will take over part of its treasury stock as a long-term investment. The transaction will be executed directly after the Annual General Meeting, which will take place on August 24, 2021.
CEO Rüdiger K. Weng: "By achieving a significant pension fund investment in WFA for the first time, we have reached another milestone. As a result of the sale, we are able to finance the investment in the 360X Art much earlier than expected - even before the payment is due and entirely from our own funds.
WFA will provide the remaining tranche of 50,000 shares of treasury stock to a U.S. securities trading firm, which will begin to build a shareholder base in WFA's primary market, the United States. If necessary, the WFA major shareholder will provide additional shares in a placement for the US.