DGAP-Adhoc FRIEDRICH VORWERK sets price range for planned IPO at €41 to €56 per share
DGAP-Ad-hoc: Friedrich Vorwerk Group SE / Key word(s): IPO/Expansion
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FRIEDRICH VORWERK sets price range for planned IPO at €41 to €56 per share
- Primary offering of 2.0 million shares to accelerate growth in the hydrogen market
- Secondary offering by current shareholders of 6.0 million shares and additional 1.2 million shares to cover a potential over-allotment
- Free float of up to 46.0% after the IPO
- Offer period is expected to commence today and end on or around 23 March 2021
- First day of trading on the Regulated Market of the Frankfurt Stock Exchange (Prime Standard) is expected to be on or around 25 March 2021
Tostedt, 15 March 2021- FRIEDRICH VORWERK Group SE, a leading provider of energy transportation and transformation infrastructure for the gas, electricity and hydrogen markets ("FRIEDRICH VORWERK" or the "Company"), has set the price range for its planned initial public offering (the "Offering") at €41.00 to €56.00 per share. The final offer price will be determined by way of a bookbuilding process. The Offering comprises 2.0 million new shares from a capital increase and 6.0 million secondary shares from the current shareholders MBB SE and ALX Beteiligungsgesellschaft mbH as well as 1.2 million secondary shares provided by the current shareholders to cover a potential over-allotment. The lock-up period will be 180 days for the Company and 365 days for selling shareholders. Free float after the IPO will be up to 46.0%, subject to full exercise of the greenshoe option. FRIEDRICH VORWERK will remain an owner-managed business with CEO Torben Kleinfeldt and also MBB SE retaining a significant stake in the Company.