Wacker sets €30-38 per share Siltronic IPO pricing; trading start 11 June

Wacker sets €30-38 per share Siltronic IPO pricing; trading to start 11 June

6:41 AM, 31st May 2015
Wacker sets €30-38 per share Siltronic IPO pricing; trading to start 11 June

MUNICH, GERMANY: Wacker Chemie AG (Wacker Group), the current owner of Siltronic AG, and Siltronic said they have set the price range for the planned IPO of Siltronic from €30 to €38 per share, with the first day of trading set for June 11, preceded by a June 1-10 subscription period, Wacker and Siltronic said.

The offer will comprise up to 12,65 million shares, 6 million of which put up for sale by parent Wacker plus an over-allotment option of 1.65 million shares, and 5 million shares at most from a capital increase.

Siltronic eyes gross proceeds of about 150 million euros from the new shares, meaning it may issue fewer than the maximum 5 million new shares.

Citi and Credit Suisse will act as joint global co-ordinators and joint bookrunners, according to the statement.

© Reuters News

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