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PRESS RELEASE: CHORUS Clean Energy AG launches IPO -2-

24.09.15 08:21
Dow Jones Newswires

PRESS RELEASE: CHORUS Clean Energy AG launches IPO

DGAP-News: CHORUS Clean Energy AG / Key word(s): IPO
CHORUS Clean Energy AG launches IPO

2015-09-24 / 08:21


CHORUS Clean Energy AG launches IPO

- Price range set between EUR 9.75 and EUR 12.50 per share

- Offer period begins on 25 September and is expected to end on 02 October 2015

- Trading of shares on the regulated market segment (Prime Standard) of Frankfurt Stock Exchange is planned to start on
07 October 2015

- Issue proceeds will be used to finance further growth

- Prospectus is expected to be approved and published today

Neubiberg/Munich, 24 September 2015 - CHORUS Clean Energy AG ("CHORUS" or "Company"), based in Neubiberg near Munich, a
company specializing in the operation of solar and wind power plants, resumes its plan of an IPO. The Company seeks to
list its shares on the regulated market (Prime Standard) of the Frankfurt Stock Exchange. Depending on the further
development of the market environment, the first day of trading is planned for 07 October 2015.

The Company has set the price range for the offered shares at EUR 9.75 to EUR 12.50 per share. The offer period begins
on 25 September 2015 and is expected to end on 02 October 2015. The final offer price will be determined on the basis of
a bookbuilding process at the end of the offer period.

Based on the existing shareholders' resolution regarding the capital increase, the offer comprises up to 12,000,000 new
shares, however, corresponding to the targeted offering proceeds from the capital increase of around EUR 100 million and
in light of the price range, 8.0 million to 10.3 million new shares are expected to be issued.

Furthermore, the offer comprises up to 914,058 shares from the holdings of existing individual shareholders and a
potential over-allotment of up to 1,937,108 additional shares from existing shareholders. In connection with the
over-allotment, the Company has granted the banks involved the option to subscribe and purchase up to 1,937,108
additional new shares of the Company in order to use these to return the shares underlying the over-allotment
('greenshoe option') to existing shareholders. Assuming that the greenshoe option is fully exercised, the total gross
proceeds of the offering therefore are expected to reach up to around EUR 125 million on the basis of the mid point of
the price range.

All offered shares carry dividends as of 01 January 2015.

The shares will be offered publicly in Germany and Austria, as well as in private placements in certain jurisdictions
outside of Germany and Austria and outside of the United States of America.

The shares are to be traded on the regulated market (Prime Standard) of the Frankfurt Stock Exchange on 07 October 2015.

If all shares from the offering are placed (including issuing additional shares in case the greenshoe option is fully
exercised), CHORUS would have a free float of around 86 percent of the share capital. Both the founders and the
management are committed to an 18 months lock-up period of their shares after commencement of trading. Furthermore, the
Company will not issue or sell any further shares for a period of six months after commencement of trading.

"We are pleased to resume the planned IPO of CHORUS today. We received the needed tailwind from the positive feedback of
national and international investors as well as our successful business development. The proceeds of the IPO will be
used to implement our growth plans and to finance additional solar and wind parks. We can revert to our project pipeline
with power plants of more than 800 megawatts in core European countries. Furthermore we will use the proceeds to expand
our service portfolio in the field of asset management", states Holger Götze, CEO of CHORUS Clean Energy AG.

Berenberg supports the IPO as Sole Global Coordinator and will act together with BHF-BANK as Joint Bookrunner.

The securities prospectus is expected to be approved by the German Federal Financial Supervisory Authority (BaFin) today
and to be available in the section 'Investor Relations' of the company website for download.

The business model combines reliable revenues from renewable energy plants with a wide range of services for
institutional investors

CHORUS is an independent operator of solar and wind parks, as well as a full service provider for investments in
renewable energy. In recent years, the Company has realized investments in 67 solar and wind parks in Germany, Italy,
France, Austria and Finland with a total investment volume of approximately EUR 673 million. CHORUS currently operates a
diversified portfolio of photovoltaic and wind power plants, with a total capacity of over 250 megawatts. This portfolio
generates stable and predictable revenues that are independent of economic cycles, thus leading to sustainable cash
flows for CHORUS and its asset management clients.

With the CHORUS Infrastructure Fund S.A. SICAV-SIF, a regulated specialized investment fund under Luxembourg law,
professional investors can also participate in a diversified portfolio of renewable energy plants. Alternatively, CHORUS
is assembling, based on individual requirements, customized target portfolios of renewable energy plants under its
'Tailored Investment Solutions' service for its clients and optimizes the required investment structure. The Company
then takes over the operational management of the plants.

About the CHORUS Group

CHORUS Group was founded in 1998 and operates solar and wind parks in five European countries. To date, investments in
67 solar and wind parks with an output of more than 250 megawatts have been realized. For institutional investors,
CHORUS also offers investment opportunities in renewable energy plants. CHORUS Clean Energy AG covers the entire
investment cycle - from sourcing of assets through financial and legal due diligence to monitoring and divestiture.


Stephan Castenholz
CHORUS Clean Energy AG
Tel.: +49 (0) 89 / 442 30 60 - 0
Fax: +49 (0) 89 / 442 30 60 - 11

Andreas Friedemann
Kirchhoff Consult AG
Tel.: + 49 (0) 40 / 60 91 86 - 50
Fax: + 49 (0) 40 / 60 91 86 - 60


This release is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer
to buy any securities of the Company. The offer will be made solely by means of, and on the basis of, a securities
prospectus to be approved by the German Financial Supervisory Authority (Bundesanstalt für
Finanzdienstleistungsaufsicht). After the approval the securities prospectus will be available free of charge at CHORUS
Clean Energy AG, Prof.-Messerschmitt-Str. 3, 85579 Neubiberg, Germany (the "Company"), or on its website under An investment decision regarding the publicly offered securities of the Company should only be made on
the basis of the securities prospectus.

This release is not meant for publication in the United States of America and does not constitute an offer in the United
States of America, Australia, Canada, Japan or any other jurisdiction, which prohibits an offer of securities. The
securities of the Company may not be offered or sold in the United States absent registration or an exemption from
registration under the U.S. Securities Act of 1933, as amended (the "Securities Act"). The securities of CHORUS Clean
Energy AG have not been, and will not be, registered under the Securities Act or the laws of any US federal state and
will not be sold or offered for sale in in the United States.

This release is only directed at persons who (i) are outside the United Kingdom, or (ii) have professional experience
with investments and fall within the definition of "investment professionals" under Article 19(5) of the Financial
Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the "Order") or (iii) are persons falling
within Article 49(2)(a) to (d) of the Order (high net worth companies, unincorporated associations, etc.) or another
exemption under the Order (all such persons together being referred to as "Relevant Persons"). All securities referred
to herein are only available for investments by Relevant Persons, and any offer for sale, or any solicitation of an
offer to purchase and any agreement to sell, purchase or otherwise acquire such securities is only made towards Relevant
Persons. Persons not being Relevant Persons must not act on or rely on this release or any part thereof.

This release includes statements that are, or may be deemed to be, "forward-looking statements". These forward-looking
statements reflect the current views, expectations and assumptions of the Company's management and are based on
information currently available to management. Forward-looking statements do not encompass a guarantee for the
occurrence of future events and developments and are subject to known and unknown risks and uncertainties. As a result
of various factors, the actual future results of CHORUS Clean Energy AG and the actual developments relating to CHORUS
Clean Energy AG may therefore materially differ from the expectations and assumptions mentioned herein. These factors
include changes in the general economic conditions and the competitive situation. Furthermore, developments on the
financial markets and currency fluctuations as well as changes in national and international laws, in particular in
relation to the promotion of renewable energies, and other factors have an influence on the future results of operations
and developments of the Company. CHORUS Clean Energy AG disclaims any obligation or undertaking to update or revise any
forward-looking statement contained in this announcement.

2015-09-24 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.

(MORE TO FOLLOW) Dow Jones Newswires

September 24, 2015 02:21 ET (06:21 GMT)

PRESS RELEASE: CHORUS Clean Energy AG launches IPO -2-

Media archive at and
Language: English
Company: CHORUS Clean Energy AG
Prof.-Messerschmitt-Straße 3
85579 Neubiberg / München
Phone: +49 (0)89 442 30 60 - 0
Fax: +49 (0)89 442 30 60 - 11
ISIN: DE000A12UL56
Listed: Regulated Market in Frankfurt (Prime Standard)
Notierung vorgesehen / Intended to be listed

End of News DGAP News Service

397091 2015-09-24

(END) Dow Jones Newswires

September 24, 2015 02:21 ET (06:21 GMT)


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