ELSA AG Board of Directors: Theo Beisch, Peter Güldenberg, Theo-Josef Beisch (from left to right)
July 3, 1998 - Shares in the ELSA AG of Aachen, Germany, were traded on the stock exchange for the first time on June 15, 1998. ELSA offered ordinary shares for sale via a banking consortium headed by the Dresdner Bank AG. 600,000 shares, with a total nominal value of around DM 3.0 million (US$ 1.7 million), were issued at DM 123.00 (US$ 70) each and were first listed on June 15, 1998. The day's trading closed with a price of DM 229.50 (US$ 131). The placed shares carry full dividend rights for the fiscal year starting January 1, 1998.
The IPO was followed on July 3, 1998 by the greenshoe placement of a further 100,000 shares by the Dresdner Bank. These shares were also issued at DM 123.00 (US$ 70) each and also carry full dividend rights for the current fiscal year.
"The public offering will establish the financial basis for realizing our future visions. ELSA is currently ranked fifth in the world for supplying computer graphics solutions, and will push forward to be among the top three players in the industry", said Theo Beisch explaining the goals set. The existing subsidiaries will be strengthened financially and with additional personnel. Theo Beisch holds with 77% the majority in the company and two other long-standing shareholders have a total interest of around 3%. The proportion allotted to free float is approximately 20% of the DM 17.5 million (US$ 10 million) equity.
ELSA AG Board of Directors: Theo Beisch, Peter Güldenberg, Theo-Josef
Beisch (from left to right)
ELSA's two business divisions, Computer Graphics and Data Communications, offer products both for professionals and for demanding consumers. The product range includes 2D and 3D graphics boards, color monitors, videoconferencing systems, high-speed modems, ISDN adapters and Internet access routers. ELSA thus has a product family covering the full range from entry level up to high-end solutions stemming entirely from ELSA's own development. ELSA, with a market share of 23%, is worldwide the leading supplier of graphics boards to the professional Windows NT® workstation market. The high quality of the products is rooted in the board design, the hardware developed in-house by ELSA and an optimally suited software package.
In the Data Communications division, ELSA offers ELSAvision as a professional videoconferencing system which can be used via the Internet, ISDN or LAN. With the development and worldwide premiering of a videoconferencing system for Windows NT 4.0 in 1997, ELSA made good use of the experience gathered in the areas of computer graphics and data communications.
ELSA AG is a stock company based in Aachen, Germany, with subsidiaries in Santa Clara (California), Taipei (Taiwan), and Tokyo (Japan). Founded in 1980, ELSA has built up a world-renowned reputation for applying advanced engineering expertise to computer graphics and data communications products. Technological competence, German standards of quality, leading-edge products and services backed up by excellent support: these are factors which firmly place ELSA at the forefront of the market today.
Note: DM to US$ conversions based on an average exchange rate of DM 1.75 per US$
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