MUNICH, GERMANY / ACCESSWIRE / August 15, 2017 /Pyrolyx AG, the Munich-based global leader in the extraction of rCB (recovered carbon black) from end-of-life tires, has completed its IPO on the regulated market of the Australian Securities Exchange (ASX).
Pyrolyx AG is very proud to announce that it is the first German incorporated company listed on the Australian Securities Exchange.
Pyrolyx raised approximately A$35.3 million, or EUR23.9 million, through the issuance of 23,990,940 CHESS Depositary Interests (CDIs) as part of the IPO, with 15 CDIs representing one share in Pyrolyx (equivalent to 1,599,396 Pyrolyx shares). The issue price for the share issuance was AU$1.47 per CDI or AU$22.05 per Pyrolyx share, corresponding to EUR14.96 per share on Settlement (July 31, 2017).
Trading in CDIs will begin on 16th of August, after which time Pyrolyx AG shares will be transparently traded on both the ASX and German exchanges.
Pyrolyx will be listed on the ASX under the ticker "PLX" (ASX: PLX).
This capital will primarily be used to build rCB production facilities in the USA, in conjunction with Pyrolyx recently announced US$30 million debt financing to support the construction of the new Terre Haute rCB facility in the USA. The IPO will also provide capital for Pyrolyx future development and to fund strategic initiatives, including enhancing the scale of Pyrolyx current commercial rCB plant at Stegelitz, Germany.
Niels Raeder, CEO of the Pyrolyx Group, noted: "We are excited and honoured by the successful placement on the ASX. This will enable us to commence construction of our new facility in the USA this month as planned. The plant will recycle about 4 million end-of-life tires annually and produce approximately 12,900 tons of recovered Carbon Black (rCB), 17,500 tons of pyrolysis oil, and about 6,200 tons of steel." Mr Raeder expressed gratitude for the underwriting investment bank, Moelis Australia Advisory Pty Limited.
Thomas Redd (CEO Pyrolyx USA) explained that: "Pyrolyx unique process contributes to solving two of global environmental problems - first, each Pyrolyx plant will use 4 million tires annually which otherwise would be destined to be landfilled or incinerated and second, each ton of rCB Pyrolyx manufactures saves about 2.5 tons of CO2 compared to traditional carbon black manufacturing" He said: "We are thrilled to increase our commitment to Pyrolyx USA and look forward to satisfying the carbon black requirements of our customers."
Pyrolyx AG is the world leader in the extraction of rCB (recovered carbon black) from end-of-life tires. Conditioned rCB is used to manufacture new tires as well as in the plastic and technical rubber industries. Pyrolyx AG operates an ultramodern rCB plant in Germany and will shortly start building another production plant in Terre Haute, Indiana.
Shares in the company (WKN A2E4L4) are listed on the stock exchanges in Frankfurt and Düsseldorf as well as on m:access (Munich Stock Exchange) and the ASX (Australian Securities Exchange) under the ticker PLX (ASX: PLX) and also traded on the electronic trading system Xetra.
SOURCE: Pyrolyx AG
© 2017 Accesswire. All Rights Reserved.