New Art Industry Stock to be Listed in Germany; Mallett Continues to Bleed; Abbey Gets 38 New Investors in Art Fund; Some New Data about Mysterious Fotoeffect « Skate's Art Investment Review

Polish Abbey House’s very successful IPO earlier this year (the firm’s share price is up 270% in PLN terms since May) was clearly an inspiration for many art industry entrepreneurs. Skate’s has learned that at least one such entrepreneur is about to follow with a listing shortly; Weng Fine Art AG, a well-established art dealer from Krefeld, Germany is set to be the first listing on the Frankfurt Stock Exchange in 2012 when its shares will be admitted to trading on January 3, 2012. Skate’s is currently reviewing Weng Fine Art’s application to Skate’s Art Stock Index. If granted the firm would become the 14th constituent company in the index and the second after artnet to come from Germany (another German firm, Berlin-based photography dealer and fund CameraWork, was excluded from the index earlier this year due to lack of trading).

Weng Fine Art is an international art dealer focused on B2B art trading and established and managed by former financier Rüdiger Weng, who owns 87% of the firm’s shares with the balance owned by individual shareholders. The listing on January 3, 2012 will provide liquidity to those shareholders; no new equity offering is scheduled to take place at that time, although a capital increase for Weng Fine Art is likely to take place later in 2012 and will be executed in a form of a public offering on the Frankfurt Stock Exchange.

Skate’s will publish its index decision together with a very detailed profile of Weng Fine Art AG on December 26, 2011.