March 15, 2013 / 7:27 AM / in 5 years

Deutsche Bank places VW shares worth 950 mln eur

FRANKFURT, March 15 (Reuters) - Deutsche Bank is placing 5.8 million Volkswagen preference shares on the market by way of an accelerated bookbuild, the bank said in a statement on Friday.

Deutsche Bank said it was the sole bookrunner for the share sale, which is worth roughly 950 million euros ($1.23 billion) based on the stock’s Thursday closing price of 164.65 euros.

A spokesman for the bank declined to give further information.

Volkswagen shares were indicated 3.4 percent lower at 0722 GMT in trading before markets open, according to Lang & Schwarz brokerage. ($1 = 0.7704 euros) (Reporting By Christiaan Hetzner)

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