Noratis AG has announced a significant strategic reorientation within the scope of its insolvency proceedings. Yesterday, the responsible insolvency administrator decided to abandon the original plans for refinancing the Noratis Group's existing portfolio. Instead, the focus will be on realising the portfolio by selling it. This decision marks a fundamental change in the approach to securing the company's assets.
In direct connection with this strategic realignment, the insolvency administrator of Noratis AG today also decided to terminate the admission of the company's shares to the Open Market (Basic Board) of the Frankfurt Stock Exchange. This step, referred to as a delisting, will be formalised by a corresponding letter to Deutsche Börse AG, which is to be submitted today.
Details of the delisting and implications for shareholders
The notice period for admission to the Open Market is three months, in accordance with Section 30 of the General Terms and Conditions of Deutsche Börse AG. This means that trading in Noratis AG shares on the Basic Board of the Open Market of the Frankfurt Stock Exchange will cease by 1 December 2026 at the latest. Until then, the company's shareholders will retain the option to trade their shares on the Open Market.
After the termination of admission to the Open Market of the Frankfurt Stock Exchange, Noratis AG will no longer arrange for its shares to be listed on any other exchange. This will lead to a complete cessation of organised trading in the company's shares at the company's initiative. The insolvency administrator's decision underscores the priority of effectively monetising the portfolio assets to best serve the interests of creditors.
- —Strategy change from refinancing to sale of the existing portfolio.
- —Delisting of Noratis AG shares from the Open Market (Basic Board) of the Frankfurt Stock Exchange.
- —Trading of shares to cease by 1 December 2026 at the latest.
- —No future listing on other exchanges at the company's initiative.
This step is to be understood as a consistent measure within the insolvency proceedings to ensure an orderly wind-up and realisation of company assets. The focus is now primarily on the efficient sale of the real estate portfolio to achieve the best possible results for all parties involved, instead of continuing down the path of complex refinancing.
