WERDOHL (dpa-AFX) - Vossloh AG (VOSSF.PK), a German rail technology company, announced the successful placement of 1.76 million new shares with dividend entitlement starting January 1, 2024, as part of a capital increase against cash contributions and without subscription rights. The shares were placed through an accelerated bookbuilding process with institutional investors at a price of 41.00 euros per share.
The capital raise is expected to generate proceeds of approximately 72 million euros before commissions and expenses. Vossloh intends to use the net proceeds to partially fund the planned acquisition of Sateba Group.
KB Holding GmbH, the company's major shareholder, participated in the capital increase in proportion to its 50.09% stake in Vossloh's share capital. The new shares are expected to be admitted for trading on the Frankfurt and Düsseldorf Stock Exchanges on November 15, 2024, and included in the existing listings on November 18, 2024, with delivery also scheduled for that date. Vossloh will be subject to a six-month lock-up period, with standard market exemptions.
COMMERZBANK Aktiengesellschaft and Deutsche Bank AG served as Joint Global Coordinators and Joint Bookrunners for the transaction.
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