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| About Us | Press Releases | June 5, 2001 |
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artnet AG STRENGTHENS CASH POSITION IN SUCCESSFUL FUNDING ROUND Frankfurt/New York, 5 June 2001 - artnet AG has increased its capital by 450,000 Euros. The London Investment fund ODEY EUROPEAN INC. has acquired 150,000 shares at a price of 3 Euros. This adds a new institutional investor to the artnet AG shareholder base. Crispin Odey, founder of ODEY ASSET MANAGEMENT, London and manager of ODEY EUROPEAN INC., is an art collector with detailed knowledge of the art market. artnet AG is the leading provider of information services to the art market worldwide.The company is no longer burning cash and is systematically building out its dominant position in the art market. ODEY ASSET MANAGEMENT has several investment funds under management with a total volume of 600 million dollars. ODEY EUROPEAN INC., the most important hedge fund of the group, showed a performance in excess of 20% last year. Performance during the last five years averaged 30% p.a. Contact: Hans Neuendorf Chief Executive Officer 61 Broadway, 23rd Floor New York, NY 10006 Tel: 001-212-497-9700 x638 Fax: (1) 212-497-9707 |
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©2009 artnet - The art world online. All rights reserved. artnet is a registered trademark of artnet Worldwide Corporation, New York, NY. | |
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