Jan 26, 2026 (MarketLine via COMTEX) --
ASTA Energy Solutions AG has set an initial public offering price range of EUR 27.50 to EUR 29.50 per share.
ASTA Energy Solutions AG (the “Company” or “ASTA”), a global, vertically integrated producer of high-quality copper-based solutions, which are embedded in the heart of modern energy systems, powering mid- to high-voltage transformers, industrial generators, and the expanding network of data centers, has set the price range for its planned initial public offering (the “Offering”) at EUR 27.50 to EUR 29.50 per share. The final offer price will be determined by way of a bookbuilding process. The Offering comprises (a) up to c. 4.55 million new shares from a capital increase (“New Shares”), (b) up to c. 1.37 million secondary shares from the holdings of ETV Montana Tech Holding GmbH and Makra GmbH (the “Secondary Shares”), and (c) up to c. 0.86 million existing shares from the holdings of ETV Montana Tech Holding GmbH to cover any over-allotments (together with the New Shares and Secondary Shares, the “Offer Shares”). The Company will aim to achieve total gross primary proceeds from the sale of New Shares of c. EUR 125 million. The total number of existing shares to be sold by ETV Montana Tech Holding GmbH (c. 41% pre-Offering shareholding) and Makra GmbH (c. 59% pre-Offering shareholding), both entities controlled by DDr. Michael Tojner, will be adjusted to ensure that the entities will jointly remain the majority shareholders following the Offering with a combined stake of above 50%, assuming full exercise of the Greenshoe option. The lock-up period will be 12 months for the Company, the existing shareholders and the members of the management and supervisory board. Depending on the final offer price, the total placement volume is expected to be between c. EUR 182 million and c. EUR 190 million, assuming full exercise of the over-allotment option and under consideration of the chosen price range. Free float after the Offering is expected to be up to c. 39%, subject to placement of all Offer Shares [2].
ASTA aims to outperform growth in its addressable markets, which are characterized by structurally rising demand driven by the energy transition globally. The Company intends to achieve this by leveraging its strong technological capabilities, vertically integrated value chain and global production footprint. To support this strategy, ASTA plans to invest in total approximately EUR 90-120 million over the mid-term, which should be financed through a combination of Offering proceeds and operating cash flow. Gross proceeds of c. EUR 125 million from the issuance of new shares would be primarily used to further accelerate the Company's profitable growth path worldwide. ASTA intends to use the net proceeds to:
Increase capacity at all of its existing facilities in all regions to meet strongly increased demand levels from OEM customers, and complete the ramp-up of its site in Cazin, Bosnia and Herzegovina, to support the European market (approx. 40%);
Make full use of and extend the existing recycling and casting platform in Brazil, complemented by the construction of a second recycling and casting platform in Europe, to further enhance the Company’s supply chain resilience and improve its environmental footprint (approx. 20%);
Strengthen the capital structure to enhance financial flexibility, improve the leverage metrics and secure more favorable financing terms, particularly with suppliers (approx. 20%); and
Reduce leverage across the ASTA Group through the repayment of loans extended by Montana Aerospace Austria GmbH and Montana Aerospace AG to improve debt metrics and enhance its capacity to self-finance future growth initiatives (approx. 20%).
In the context of the planned Offering, Siemens Energy, as part of strengthening its long-standing relationship with the Company, has pre-committed to purchase shares in the Offering at the final offer price for an amount of c. EUR 25 million. Furthermore, three international institutional investors, namely (i) funds managed by the Environmental Strategies Group at BNP Paribas Asset Management, (ii) Invesco Asset Management Limited, on behalf of certain collective investment funds and/or accounts, and (iii) WCM Investment Management, LLC, directly or indirectly through a wholly-owned subsidiary, through funds managed by WCM Investment Management, LLC, or through custody accounts for clients managed by WCM Investment Management, LLC, have each pre-committed, severally and not jointly, to purchase shares in the Offering at the final offer price for an amount of c. EUR 10 million as cornerstone investors (together with Siemens Energy, the “Cornerstone Investors”). In total, the Cornerstone Investors have pre-committed for an aggregate amount of c. EUR 55 million, in exchange for guaranteed allocations.
The prospectus (the “Prospectus”), which has been approved by the Austrian Financial Market Authority (Österreichische Finanzmarktaufsichtsbehörde (FMA)) and notified to the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin)), has been published in the Investors portal of the Company’s website www.astagroup.com. [3] The Offering consists of a public offering in Austria and Germany and international private placements, including a U.S. private placement to Qualified Institutional Buyers as defined in Rule 144A under the US Securities Act of 1933.
The period during which investors may submit purchase orders commences on 26th January 2026 and is expected to expire on or around 29th January 2026. Retail investors (natural persons) may submit purchase orders for the public offering in Germany during the Offer Period through the syndicate banks and their affiliated entities. Retail investors in Austria are advised to contact their respective custodian bank to arrange for placing an order.
Trading of the Company's shares on the Regulated Market (Prime Standard) of the Frankfurt Stock Exchange is expected to commence on or around 30th January 2026 under the trading symbol “1AST” and the ISIN AT100ASTA001.
In connection with the Offering, Berenberg is acting as sole global coordinator and, together with COMMERZBANK (in cooperation with ODDO BHF) and Raiffeisen Bank International, acting as joint bookrunners and underwriters. In addition, Baader Bank is acting as co-lead manager without an underwriting role.
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