- Placement price at EUR 12.50 per share
- Total transaction volume of EUR 938 million
- Strong interest from institutional investors
- First trading day on the Frankfurt Stock Exchange on October 9, 2015
Schaeffler AG successfully completed its IPO today. In total, 75 million non-voting common shares were placed with institutional investors. 66 million of these shares result from a capital increase of Schaeffler AG and the remaining 9 million shares from Schaeffler Verwaltungs GmbH. The placement price for the shares offered in connection with the IPO was set at EUR 12.50 per share. Gross proceeds amount to approximately EUR 938 million. The order book was several times oversubscribed.
„We are very pleased that we could successfully complete our IPO in a challenging market environment. The strong demand from investors shows that Schaeffler is perceived as an attractive investment“, said Klaus Rosenfeld, CEO of Schaeffler AG. „With the IPO we have paved the way to continue the profitable growth path of Schaeffler AG.“
The proceeds from the transaction will be used to reduce financial indebtedness of Schaeffler AG and thus to sustainably improve its financial strength. Furthermore, through this step, the legal restructuring of the entire group is concluded.
“With the successful completion of the transaction we have completed the two-pillar model, which we have consistently worked on for several years, with a strategically focused holding company at the top”, explained Georg F. W. Schaeffler, Shareholder and Chairman of the Supervisory Board of Schaeffler AG.
Maria-Elisabeth Schaeffler-Thumann, Shareholder and Deputy Chairperson of the Supervisory Board, added: “The Schaeffler Group will remain a family business in the future. As shareholders we will take responsibility to further successfully develop our group of companies.”
The non-voting common shares of Schaeffler AG will be traded as of October 9, 2015 on the regulated market (Prime Standard) of the Frankfurt Stock Exchange (Frankfurter Wertpapierbörse) and will have the ticker symbol SHA, the German Securities Identification Number (WKN) SHA015 and the International Securities Identification Number (ISIN) DE000SHA0159.