The German aerospace company OHB has raised 789 million euros as part of a re-placement of shares jointly with the KKR investment fund in order to increase the share of shares in free circulation and the number of investors. This is reported in the OHB press release.
The organizers of the deal called the placement of shares a "repeat IPO", since a small part of the shares remained in the ownership of public investors after the sale of shares to KKR. Taking into account the option and the additional issue, the number of shares in free circulation will increase from 10% to 20%.
Despite the high interest amid increased spending on defense, security and space infrastructure development, OHB shares were below the listing price on the Frankfurt Stock Exchange at the beginning of trading.
Applications for the purchase of shares were submitted by more than 200 institutional investors, including international and German long-term investment funds, the interest allowed to increase the volume of the placement.
From the analysts' point of view, the space industry is becoming one of the key areas for the development of critical infrastructure, strengthening security and increasing the competitiveness of the European economy.
OHB cooperates with German tank and ammunition manufacturer Rheinmetall AG and French Dassault Aviation SA.
OHB SE is a European space and technology company that develops and implements integrated space systems, manufactures components for launch vehicles, and operates satellite systems. The company includes three divisions (Space Systems, Aerospace and Digital) and more than 3,000 employees in 10 countries. The headquarters is located in Bremen (Germany).
Read our Telegram channel "Mergers and Acquisitions. AK&M».
Our channel at MAX is "Mergers and Acquisitions. AK&M».
