Net Mobile IPO offers exit to Wellington & Grunwald

Net AG, the IT specialist for e-business solutions, plans to list its net mobile subsidiary, of which it owns 35% on the regional Munich stock exchange, Borse Munchen. Wellington Partners and Grunwald Equity Partners hold 42% and 15% of net mobile’s equity, respectively, although they are not anticipating selling any shares in the initial public offering.

net mobile is a provider of mobile entertainment services in Germany with annual sales in the current fiscal year (2004/2005) of more than E33m.

VEM Aktienbank AG, Munich has been appointed to prepare the IPO on M:access, the new market segment of the Munich Stock Exchange, along with listing on the Xetra trading system of the Frankfurt Stock Exchange.