News & Press
WFA AG submits a buyback offer to the free float of its subsidiary ArtXX AG
3 Feb. 2022 / Pressemitteilungen
Weng Fine Art AG is offering shareholders of its subsidiary ArtXX AG, who received their shares in the private placement in May 2019 for EUR 6.00 and who received them as a dividend in December 2020 for EUR 6.00, to repurchase these shares at a price of EUR 12.50. In addition, dividends totaling CHF 0.60 were distributed in 2020/21, which would result in a gross yield of approximately 118% for shareholders from the 2019 private placement.
The shares of ArtXX AG are not yet to be listed on a stock exchange in 2022, because the management wishes to retain the option of listing the shares abroad, or selling them to a potential strategic partner. Therefore, Weng Fine Art AG is offering for all outstanding 480,000 shares the opportunity to realize accumulated profits by accepting the offer. The offer runs from February 3 to 28, 2022.