Gersthofen (dpa / lby) – In Swabia, a private school wants to take around seven million euros by going public, thereby helping to finance a school campus. The International School Augsburg is an English-speaking school in Gersthofen, a suburb of the Swabian city. With the help of the money raised on the stock exchange, she wants to build a completely new school complex costing more than 30 million euros by 2025.
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From Monday onwards, shares in the school can be subscribed for for EUR 12.50 each, and from March 18, the shares will be traded on the Munich Stock Exchange. Since the school is a not-for-profit joint-stock company, no dividends are paid to the shareholders. Such non-profit joint-stock companies are “a rarity on the German capital market,” announced the stock exchange.
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The school describes the security as “Germany’s first educational share”. In doing so, “the focus is not on the volume of trade, but rather on our shareholders’ ideal bond with this unique facility in the region”.
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The school is to be seen as an economic development project so that international company employees have a corresponding offer for their children. Nevertheless, there is potential for value increases due to the share’s “low issue price”.
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The parents of the children at the private school have to dig deep into their pockets to attend school. The regular school fee is between around 13,400 and 16,300 euros per year, depending on the grade, with an additional admission fee of between 5,000 and 7,500 euros.
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According to the school, around 320 children of more than 40 nationalities attend the school. The catchment area extends to the western Munich area. Almost 80 percent of the ongoing school operations are financed by private income, the rest are state subsidies.
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The planned new school building is expected to cost a total of 32 million euros. It is expected that the Free State of Bavaria will bear about half of it. The shortfall is said to be made up of the share income, available funds and loans.
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However, this funding has not yet been secured. Should problems arise here, this could have “significant negative effects” on the Schul-AG up to and including bankruptcy, warned in the sales prospectus for the shares.
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© dpa-infocom, dpa: 210221-99-528875 / 2
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