Ad hoc-announcement edited and sent by DGAP. The sender is solely
responsible for the contents of this announcement.
Berlin, Bonn, München, New York (ots Ad hoc-Service) - FORIS
prepares flotation of its subsidiary FORATIS AG.
FORIS AG (Securities ID No. 577580) is to concentrate its
inventory companies and inventory trademarks activities into an
independent subsidiary company and is planning to float this stock
corporation on the stock exchange in the first half of 2001. The new
company is to trade under the name of FORATIS AG.
FORIS AG founds German limited companies (GmbHs) and stock
corporations (Aktiengesellschaften) for the sole purpose of selling
them on. The companies are available immediately and, apart from
their foundation, no transactions have been carried out in their
name. Every company is handed over with its full nominal or equity
capital. At the end of the third quarter of this year. FORIS has
already sold 320 companies - 142 of them Aktiengesellschaften - and
achieved a turnover of DM 24.7 million from this business activity.
The growth rate of the sales has been over 50% from one quarter to
the next. The premium is 10% on the nominal capital, which also
includes all notaries', certification and registration fees.
Over 60,000 companies are founded in Germany every year. It can
take several weeks from the first visit to the notary to actual
registration of the company and the process is time-consuming and
costly. In addition, the management of the enterprise is personally
liable for all transactions up to the date of registration. These are
compelling reasons to purchase what is known as a inventory company.
Now that FORIS has perfected the logistics of serial foundation
and sale, this service is to be extended and offered, not just to
lawyers as is presently the case, but also to accountants and centres
for setting up businesses. The sale of several thousand companies is
planned for the coming year and activities are also to be
internationalised. FORIS already sells inventory companies to
customers in many countries, but in future it will also be able to
acquire foreign companies. At the same time FORIS has begun trading
in inventory trademarks. The enormous expansion of both sectors
necessitates the separation of the activities into an independent
company. Moreover, the goal of trading on the global market requires
an independent means of raising capital, which is possible when
several hundred companies are founded at a time. FORIS AG will
continue to hold the majority of shares in its subsidiary company
after the planned flotation. FORATIS AG will already be in the black
by the time flotation takes place and this is the reason why the
FORIS Board itself is convinced that the company represents an
Further information: FORIS AG, Friedrichallee 9, 53173 Bonn, Tel.
+49 (0)228- 957 50 50, Fax: +49 (0)228- 957 50 57, eMail:
FORlS-Bonn@foris-ag.de. Internet: http://www.foris-ag.de
Original-Content von: FORIS AG, übermittelt durch news aktuell