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Market: XETRA
Sector: General Financial
EPIC: NNS
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Nanostart AG
www.nanostart.de

We undertake equity investments in emerging nanotechnology companies which hold the potential to deliver extraordinary long-term growth. The typical size of our investments is between one and ten million Euros.

Full Nanostart AG profile here
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Nanostart's ItN Nanovation to launch capital increase; Rusnano to invest

5th Apr 2011, 2:15 pm by Deborah Sterescu

Frankfurt-based VC house Nanostart (OTCQX:NASRY) said Monday that its portfolio company ItN Nanovation, which makes water filtration systems based on nanotechnology, will launch a capital increase in connection with a planned equity investment into the business.

The capital increase, with application of subscription rights, will have a volume of up to EUR11 million, and will be carried out at a ratio of 4:1 at an issue price of EUR5.07 per share.

Russian state-owned entity, Rusnano, will take part in the capital increase, contigent on whether it acquires at least 25% of ItN's share capital, post increase. Rusnano, which was established to invest in the field of nanotechnology, said it does not intend to acquire a stake of 30% or more "in the next few years".

There will be no public offering and no subscription rights trading, ItN said. The new shares are not to be admitted for trading on the stock exchange until a later date, probably in the fourth quarter.

ItN said it plans to use the funds raised from the capital increase to build up its international business.

Venture capital player Nanostart invests funds in nanotechnology companies in various development phases. Investments are focused on companies in the cleantech, life sciences and IT/electronics sectors. The firm invests in Asia through its partnership with the Singaporean government.

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