April 4, 2018 / 1:31 PM / 3 months ago

Nordex stock gains after key shareholder buys stock

FRANKFURT (Reuters) - Jan Klatten, the husband of Germany’s richest woman, has slightly increased his stake in German wind turbine maker Nordex (NDXG.DE), according to a regulatory filing published by the company on Wednesday.

Via momentum-capital Vermoegensverwaltungsgesellschaft mbH, Klatten, who also sits on Nordex’s supervisory board, bought 502,406 euros ($616,703) worth of Nordex stock at an average price of 7.13 euros a share.

Shares in the group, the world’s sixth-largest maker of wind turbines, rose 5.2 percent on the news to 7.78 euros apiece. Its shares have lost 12 percent year-to-date.

Together with SKion - which is owned by Susanne Klatten, one of the largest shareholders in luxury carmaker BMW (BMWG.DE) - momentum holds 5.71 percent in Nordex, making them the second-largest investor after Spain’s Acciona (ANA.MC).

Nordex last week forecast a recovery in Germany, its largest market by sales, by 2020, helped by easing pricing pressure, efficiencies and an expected pick-up in demand.

($1 = 0.8147 euros)

Reporting by Christoph Steitz; Editing by Mark Heinrich

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