On 11 November 2014, the Luxembourg Stock Exchange admitted to trading on its regulated market shares of Hella KGaA Hueck Co. Hella, the German manufacturer of auto headlights and electronics parts, whose family owners will retain a majority stake of the company until 2024, plans to use the proceeds of the IPO to fund innovation and the company’s international expansion.
The placing of primary shares represented 10% of the enlarged share capital, while a secondary component was provided by the family and represented 4.5% of the post-money share capital. The family will also make 750,000 shares available for a greenshoe option. Based on the pricing for the primary shares, the company has achieved a market capitalization of EUR 2.8bn. If the targeted number of...
|