HELLA free float increases significantly
- Free float increases to approximately 28 percent
- Family shareholders place around 13.9 million shares with institutional investors
- Mid-term objective MDAX kept in sight
With the going public in November 2014, the members of the shareholder family have signed a pooling agreement in which they jointly agree to keep at least 60 percent of the shares within the family. The agreement will be in force until at least 2024. The now placed shares originate from holdings not subject to the pooling agreement. Furthermore, the remaining shares of the family shareholders participating in the sale are reportedly subject to a lock-up of six months.
The placement and the associated increase of the free float mark a further milestone for HELLA on the way to achieving the mid-term goal of an MDAX entry.
Bankhaus Lampe and Deutsche Bank acted as joint bookrunners in the private placement with institutional investors.