“stock exchange listing”

Rüdiger Weng, exceptional results and projects for Weng Fine Art

Krefeld, 27 September 2012. Art Media Agency (AMA). Weng Fine Art, now one of the most influential art traders, has recently announced excellent financial results: over the last six months, an almost $5m turnover, and a $1.3m net operating profit after tax, with less than ten employees. Art Media Agency met with Rüdiger K. Weng, founder and majority shareholder of Weng Fine Art, to record his opinion on these results and the company’s forthcoming projects. Art Media Agency (AMA): The results you announced are exceeding by far all expectations. Are you satisfied? Rüdiger K. Weng (RKW) : I am. I am very proud of what we achieved these last six months. The Shareholders General Assembly, on 24 September, was a great success as well. We welcomed over 150 visitors, far beyond our expectations. AMA: Could you imagine this achievement in January, before the stock exchange listing in Frankfurt? Certainly not! And this is no false modesty. Nobody can reasonably plan a 450% increase of a company’s market capitalisation in nine months! In the beginning, we created the project with financiers friends. We decided the stock exchange listing out of curiosity, more than anything else. It is very risky to plan the results of such transactions. Obviously we hoped for a market capitalisation increase, but not in such proportions. Actually, everything changed with the stock exchange listing: we now have a better visibility of the artistic and financial players, a highly increased investment capacity (which allows us to take faster decisions), an increasing negotiation capacity (thanks to our speed of decision and action, and our business volume), which even allows to diminish our running costs (– 10%). Generally, we have been the first company of the contemporary art market to become transparent to the financial players. They appreciate and trust us....

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