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Knaus Tabbert has to cut back on its IPO

D.he Bavarian motorhome manufacturer Knaus Tabbert is cutting back on its IPO. The company issued the shares at the lower end of the price range and cut the volume of the issue by almost a fifth in the face of weak demand. Number three on the European caravan market set the issue price on Tuesday evening at 58 euros. Instead of up to 4.945 million shares, a maximum of four million will be sold.

In total, the company from Jandelsbrunn in the Bavarian Forest has collected 232 million euros and has a market value of 602 million euros. Knaus Tabbert wants to make his debut on the Frankfurt Stock Exchange on Wednesday. It is the first IPO after the summer break in Germany. The loss of income will be borne by the Dutch financial investor HTP Investments, who will still benefit from the lion’s share of the proceeds.

HTP bought Knaus Tabbert from bankruptcy eleven years ago and is using the camping boom in the corona crisis to partially exit. 38.5 percent of the shares will in future be in free float. The holding company had hoped for an issue volume of up to 366 million euros.

However, as planned, Knaus Tabbert himself should receive 20 million euros in fresh capital, with which, among other things, a factory for panel vans is to be built in Hungary. The company is number three in Europe in the motorhome market after the Swabian Hymer, which belongs to the US rival Thor Industries, and the French Trigano.

The subscription period for the issue of the defense electronics manufacturer Hensoldt ends on Wednesday. The former Airbus subsidiary and its owner, the financial investor KKR, want to collect at least 400 million euros with the IPO. The federal government, which has a strategic interest in Hendsolt because of its importance for the Bundeswehr, has a right of first refusal for up to 25.1 percent of the shares after the IPO. In financial circles, it is expected that the science publisher Springer Nature will also reveal its stock market plans in autumn.

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