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Provider: Reuters Investment Profile

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KION GROUP AG Updates on Initial Public Offering

Wednesday, 26 Jun 2013 01:30pm EDT 

KION GROUP AG announced that it has set the issue price for the shares offered in the initial public offering (IPO) at EUR 24.00 per share. The issue price places the shares within the price range of EUR 24.00 per share to EUR 30.00 per share. The offering was significantly oversubscribed. KION GROUP AG issued 17.23 million shares at the issue price, generating direct proceeds of around EUR 404.1 million (after deduction of underwriters' commissions). In addition, 2.58 million shares from the holdings of Superlift Holding S.a r.l., Luxembourg were placed as part of the over-allotment option. The share capital of the Company amounts to EUR 98,900,000 divided into 98,900,000 shares after the implementation of the capital increases in connection with the offering. If the underwriters exercise their greenshoe option in full, the free float will be 20.0%. 97.7% of the shares in the offering were allocated to institutional investors and 2.3% to private investors, in compliance with the Principles for the Allotment of Share Issues to Private Investors issued by the Exchange Experts Commission (BSK) at the German Federal Ministry of Finance.Trading in KION GROUP AG shares on the regulated market (Prime Standard) of the Frankfurt Stock Exchange is scheduled to commence on June 28, 2013. 

Company Quote

0.235 +0.75%
23 Dec 2014