HanseYachts is to terminate trading on the Frankfurt Stock Exchange – a move that will save the boatbuilder more than half a million euros a year.
It will also save on reporting obligations and publication requirements.
Instead, the money can be spent on developing new yacht models, explained Hanjo Runde, CEO of HanseYachts.
The announcement from the boatbuilder that it will end trading of its shares on the Frankfurt Stock Exchange has the support of the company’s major majority shareholder, the Aurelius Group.
HanseYachts ended the first half of its current financial year with record figures, and this move is set to further increase its profitability.
“We are very pleased about this demonstration of confidence from our majority shareholder Aurelius and about the fact that the strong partnership with HanseYachts is to be further expanded with the purchase offer for the free float shares,” said Hanjo.
“At the same time, we expect to save more than half a million euros a year by cancelling the stock exchange listing and significantly relieve our administration of reporting obligations that do not contribute to HanseYachts’ profitability.”
Hanjo added: “We can now invest the valuable resources freed up by this step in the development of new yacht models and thus in strengthening and expanding our market position.”
