Umweltkontor to float public shares

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Umweltkontor Renewable Energy has firmed up its plans for a flotation on the stock exchange. The wind plant developer will go public next month on the New Markets section of the Frankfurt exchange or the "quality segment" of the Düsseldorf exchange, says the company's Andreas Köster. A total of 1.2 million shares will be floated, with the proceeds going straight into the company to raise its capital stock from the current EUR 4.5 million. As recently as February, an investment company, Fortknox Venture, subsidiary of insurance firm Deutsche Versicherungswirtschaft, took a 4% stake in Umweltkontor.

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