DGAP-Adhoc FRIEDRICH VORWERK sets final offer price at €45 per share
DGAP-Ad-hoc: Friedrich Vorwerk Group SE / Key word(s): IPO
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FRIEDRICH VORWERK sets final offer price at €45 per share
Tostedt, 23 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 final offer price for its initial public offering (the "Offering") at €45.00 per share. Trading of the Company's shares on the regulated market (Prime Standard) of the Frankfurt Stock Exchange is expected to commence on 25 March 2021 under the trading symbol "VH2" and the ISIN DE000A255F11.
In total, 9.2 million shares were placed as part of the Offering. Thereof, 2.0 million shares derive from a capital increase registered with the commercial register today and 6.0 million secondary shares were allocated from the selling shareholders. Additionally, 1.2 million secondary shares were allocated from the selling shareholders in connection with an over-allotment ("Greenshoe option"). The total offer volume amounts to €414 million.
Based on the final offer price, the Company's market capitalisation will amount to €900 million. FRIEDRICH VORWERK will receive gross proceeds of €90 million to expand the Company's business, especially in the hydrogen and electricity markets. The free float of the Company will amount to 46%, assuming full exercise of the Greenshoe option. FRIEDRICH VORWERK will remain an owner-managed business in which CEO Torben Kleinfeldt and MBB SE will hold a majority stake in the long-term.