1 Min Read
FRANKFURT, Sept 7 (Reuters) - German state-controlled bank KFW has placed shares in Deutsche Post at 15.40 euros ($19.46) a share, it said on Friday.
KFW holds the shares on behalf of the German government, which on Thursday said it was shrinking its holding to 25.5 percent. It on Thursday had put the indicative price range at between 15.70 euros and market price.ID:nL6E8K6HCU]
Shares in Deutsche Post closed on Thursday at 15.98 euros and were down 2.9 percent at 15.53 euros at 0744 GMT on Friday.
"KfW decided to take advantage of the favourable conditions in the equity markets in order to continue the successful privatisation process of Deutsche Post," it said in a statement.
Deutsche Post shares have gained more than 20 percent over the last three months. ($1 = 0.7915 euros) (Reporting By Matthias Inverardi, writing by Edward Taylor)