Capital News
With its second capital increase with subscription rights, of some 5.3 billion euros, Commerzbank has since April collected a total of eleven billion. The bank has according to its statements issued 2.436 billion new shares with dividend rights from 1 January at a price of €2.18 each. A total of €14.3 billion, consisting of the proceeds of the issue and 3.3 billion own funds, will go to the repayment of state aid amounting to about 16.2 billion euros, which were paid to it during the financial crisis. By 2014, the rest is to be paid off.
Fuchs Petrolub is splitting its shares in a one to three ratio. This had been decided at the general meeting of the Mannheim lubricant manufacturer on 11 May. The IPO conversion took place on 30 June. Each common and preferred shareholder received three shares with a nominal share in capital of €1 each in lieu of the existing shares with a nominal value of three euros. By the action the company intends to increase the attractiveness of the shares, in particular to private investors.
Gerry Weber International has made their paper look cheaper a few days after the rise into the MDAX by a stock split. On 4 July, shareholders received one free share for each of their share certificates, the Westphalian fashion group announced on 29 June in Halle. The number of securities issued thus doubled to 45,905,960. “Our goal in the price adjustment is to make the Gerry Weber share accessible to an even broader spectrum of investors,” said Gerhard Weber. The women's fashion manufacturer had returned from the SDAX to the MDAX after eight years.
Leoni has successfully completed the ten percent capital increase announced on 30 June. By issuing 2,969,000 new shares, €112.8 million accrued to the auto supplier, the company announced on 1 July. The new shares were placed at a price of 38 euros each with institutional investors, under an expedited process. The complete takeover of Daekyung which is to be financed with the proceeds is expected to cost around €25m. In addition, the company intends to use the proceeds to fund organic growth.
MorphoSys has launched a 100,000-share buyback programme. This corresponds to a volume of approximately €1.7m. The shares are to be bought in June on the Exchange and used to implement the long-term compensation programme for the biotech company’s management.
Singulus Technologies has as planned taken 26 million euros gross in a capital increase announced in late May. The proceeds from the sale of over 7.88 million new ordinary shares are mainly to be used to fund growth in the solar sector and market leadership in the optical disc sector. Due to an additional-subscription option, according to company indications on 20 June the capital increase was significantly oversubscribed, so that additional applications were served at only around 11.89 percent of the subscription volume. In addition, the rest of the money is to be used for special repayments of debt to reduce interest costs.