Hubwoo Announces Oversubscribed Success with Its Capital Increase

PARIS, March 26, 2012 /PRNewswire/ -- Hubwoo (Euronext: HBW.NX), a leading global provider of Cloud Procurement solutions powered by SAP® software, today announced the results of its capital increase with rights.

(Logo: http://photos.prnewswire.com/prnh/20110202/MM41149LOGO)

Hubwoo offered 22,831,112 new shares. Total demand was 31,457,584 new shares, of which 18,567,882 new shares were based on rights exercise, and 12,889,702 new shares based on « reductible demand ».

The Hubwoo Board will confirm the decision to exercise the extension clause up to the maximum 15% of the offering on March 28th, and therefore bring the number of new shares issued to 26,255,778. 

The subscription process for the capital increase took place between the 27th of February and the 16th of March 2012 and resulted in a total demand of approximately EUR 6.3M which corresponds to a subscription rate of 138%.  This over subscription allowed the operation to be extended to the maximum allowed EUR 5.3M.

The purpose of the capital increase is to invest in business growth in the following areas:

• Extend the Hubwoo solution suite, with specific focus on derivative network offerings within the company's business-to-business collaboration platform, The Business Network.
• Accelerate top line revenue growth with further investment in sales, marketing, and the company's SAP alliance.

Greg Mark, Hubwoo Chairman & CEO commented: "The success of this operation demonstrates the continued market interest in cloud based solutions and confidence in the direction our company is going. With the availability of this new capital, Hubwoo can now execute on our growth plans through accelerating our investment in The Business Network family of solutions and intensifying our sales activities globally."

The listing of these 26,255,778 new shares on Euronext Paris will take place on March 30th 2012. They will be added to the existing company shares under the same ISIN code as the existing shares, which are listed under the ISIN code (FR0004052561). After the new listing, Hubwoo's capital will be made up of 128,995,782 shares.

Availability of the prospectus
Copies of the prospectus are available free of charge from Hubwoo's registered office, EuroLand Corporate Finance and the Internet sites of the Autorite des Marches Financiers (Financial Markets Authority) (http://www.amf-france.org) and the Company (www.hubwoo.com).

About Hubwoo (www.hubwoo.com)

Hubwoo is the world's leading provider of on-demand procurement solutions for the SAP community.  The Company manages The Business Network with over 200,000 active suppliers and over 150 major international corporations as buyer customers of which 50+ are in the Global 1000.  Significant customers include Honeywell, Shell, Evonik, EDF, Nokia, Monsanto, Michelin, Henkel, Statoil, The Hershey Company, CONSOL Energy, EcoPetrol, Carl Zeiss, Burton's Foods, and The Dow Chemical Company.  
Hubwoo has major operations in France, multiple U.S. centers, Germany, the U.K., Philippines, Belgium, and Eastern Europe.
Listed in Compartment C on the Euronext Paris Eurolist.
ISIN: FR0004052561, Euronext: HBW, Reuters: HBWO.PA, Bloomberg: HBW:FP

SOURCE Hubwoo

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED