BRUSSELS (dpa-AFX) - STEMMER IMAGING AG, a machine vision technology provider, announced that it has priced its initial public offering at EUR 34.00 per share, at the midpoint of the expected price range of EUR 32.00 and EUR 36.00 per share. At the placement price, the IPO was significantly oversubscribed.
All 2.99 million shares were placed and the placement volume including the greenshoe option therefore totals around EUR 101.7 million. The company generated generated gross proceeds of EUR 51 million.
The company expects to use the offering proceeds primarily for the realization of inorganic growth potentials to strengthen the competitive position in the European market.
The shares of company are expected to be traded in the scale segment of the Frankfurt Stock Exchange from February 27, 2018, with international securities identification number (ISIN) DE000A2G9MZ9 and the German securities code (WKN) A2G9MZ.
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