Knorr-Bremse final IPO price set at EUR 80 per share
KB Holding GmbH on 10 October announced that the final offer price for shares in German brake manufacturer Knorr-Bremse is set at EUR 80 per share.
Company announcement
Disclosure of inside information according to Article 17 para. 1 of the Regulation (EU) No 596/2014 on market abuse (market abuse regulation)
Final offer price for shares in Knorr-Bremse AG set at EUR 80.00 per share
KB Holding GmbH (the "Selling Shareholder") has set the final offer price at EUR 80.00 per share in Knorr-Bremse AG (the "Company" and together with its subsidiaries "Knorr-Bremse").
48,360,000 bearer shares with no par value from the holdings of the Selling Shareholder are being placed with investors, consisting of 35,043,479 base shares, 8,060,000 additional base shares in full exercise of the upsize-option and 5,256,521 shares in connection with an over-allotment (over-allotment shares).
Assuming full exercise of the greenshoe option, the total placement volume amounts to 48,360,000 shares with a total offer volume of EUR 3.9bn, based on the offer price. This results in a total market capitalization of EUR 12.9bn based on the offer price and an expected free-float of 30.0%.
The Selling Shareholder will receive all proceeds from the sale of the base shares and the additional base shares and from the sale of the over-allotment shares. Upon completion of the offering and assuming full exercise of the greenshoe option, the Selling Shareholder will hold 65.0% of the shares in the Company and Ursus Vermögensverwaltungs GmbH will hold 5.0% of the shares in the Company, and, consequently, Mr. Heinz Hermann Thiele will (indirectly) control 70.0% of the voting rights in the Company.
The Company's shares are expected to be trading on the regulated market (Prime Standard) of the Frankfurt Stock Exchange (Frankfurter Wertpapierbörse) under the ticker symbol KBX, the securities identification number (WKN) KBX100, and the international securities identification number (ISIN) DE000KBX1006 from October 12, 2018, with settlement and completion of the offering planned for October 16, 2018.