Late in the evening, Knaus Tabbert published new details on the company’s upcoming IPO. Above all, the existing shareholders want to make money. New investors are being offered a total of 4.945 million shares. Of these, however, only 350,000 shares come from a capital increase. This money will later flow into Knaus Tabbert’s cash register. Another 4.595 million shares come from the existing shareholders. These are .HTP Investments 1 BV, Catalina Personal-Financial.com Partners B.V. and Palatium Beteiligungsgesellschaft mbH.
The price range for the stocks offered is quite large. It is between EUR 58.00 and EUR 74.00. The maximum issue volume is therefore almost 366 million euros. A maximum of 25.9 million euros gross comes into the Knaus Tabbert till. Up to 340 million euros will flow to the existing shareholders. The market capitalization before the initial listing is between 602 million euros and 768 million euros. The free float after the IPO is up to 48 percent.
The subscription period for the IPO runs from September 14th to September 22nd. The initial listing is to take place on September 23 in the regulated market (Prime Standard) in Frankfurt.
With a dividend statement, Knaus Tabbert wants to make itself more interesting for investors before going public. From 2021, they want to distribute around half of the annual surplus as dividends.
The listing candidate manufactures leisure vehicles. These include motorhomes and caravans. Two thirds of sales are generated in Germany. In 2019 the company had a turnover of 780 million euros. More than 26,000 recreational vehicles were manufactured. Around 3,000 people work for Knaus Tabbert.
The money from the capital increase will be used to expand production facilities. The focus is primarily on a factory in Hungary for panel vans. The company may also want to establish a new brand.
The IPO is supported by Jefferies, UniCredit and ABN Amro.