Capital News
Deutsche Bank has announced an ad hoc increase in capital of probably some 8 thousand million Euros. In the meantime, 1.75 thousand million will come from Sheik Hamad bin Jassim bin Jabor Al-Thani of Qatar. Commencing June 6, shareholders will have until June 24 to subscribe to the remaining increase in capital of 6.3 thousand million Euros in which the Sheik will probably also take part. On May 19, Deutsche Bank announced that the price of the share issue – thought to be for as many as 300 million pieces – and the multiplier will be decided on June 4. Mathematically, the price should level out around 21 Euros to raise the envisaged volume. This is the ninth largest increase in share capital in the history of European banking.
SLM Solutions: stock market flotation
From its headquarters in North Germany, SLM Solutions AG, producer of 3D prints has launched a stock-market flotation. 10 million shares were issued on the Frankfurt bourse at 18 Euros per share in early May as Prime Standards. The flotation increased SLM’s capital with an issue volume of 75 million Euros. A company communiqué states that the revenue will be used to finance the takeover of a manufacturer of metal powder, to increase sales. The old shareholders cut back on their holdings subsequent to the IPO: Parcom Capitale now holds just under 17 percent, Ceresio GmbH some 24 per cent and the free float amounts to approximately 56 percent.
Capital Stage: shares, not cash
Capital Stage AG, the Prime Standard listed solar park management group is set to deliver a dividend for 2013 of 10 cents per share and thus 25 percent up on last year. The shareholder’s meeting will rule on the proposal when it meets at the end of June. This is the first time that Capital Stage intends to offer investors a stock dividend with a purchase price of 3.70 Euros per share. According to management, the company is hoping to fund the stock dividend by increasing real capital with the right to share subscription within the authorized capital, but this proposal still has to be approved by the shareholders’ meeting.
Stabilus: good behaviour on the floor
Automotive supplier Stabilus is doing well on the stock-exchange. The issue price of 21.50 Euros resulted in its stock being oversubscribed many times over. The producer of gas springs issued over three million new shares and over nine million for the participation of the financial investor Triton.
The stock market launch swelled the coffers of the fledgling Prime Standard concern by 65 million Euros and 196 million went to the majority holder Triton, the investment company that had purchased stock in the wake of Stabilus’s brush with bankruptcy five years ago. This new issue lowers its stake to 41 percent, meaning the free float concerns approximately 59 percent of Stabilus stock. The Handelsblatt daily states that Stabilus intends using the revenue from its stock market launch to reduce its indebtedness.
According to the company, turnover has grown by 8.6 percent over the last four years and was posted at 460 million Euros for the 2012-13 financial year. The adjusted EBIT even grew by almost 18 percent to 59 million Euros. Currently, Stabilus employs 4,000 staff – this financial year management is forecasting a turnover in excess of 500 million, with 246 million already
According to Handelsblatt Stabilus’s ambition is to be listed in SDax.
Symrise: Means for purchasing
An increase in capital grossed some 400 million Euros for Symrise, the producer of aromatic substances and perfumes. In May, the company issued 11 million shares worth 36 Euros each, excluding the right to subscription by institutional investors. This raised the share capital of the MDax-listed company from 118 to some 129 million Euros. The company intends using part of the revenue for the merger with the French group Diana. Symrise’s turnover for 2013 was in excess of 1.8 thousand million Euros.