German engineering group Aumann announces plans for IPO

MBB SE

27/02/2017 11:11

FRANKFURT, Feb 27 (Reuters) - German engineering group 
Aumann announced plans on Monday to list its shares on the 
Frankfurt stock exchange in the first half of this year, seeking 
funds to expand in the growing market for electric cars. 
    The initial public offering (IPO) will include new shares 
worth around 60 million euros ($63.5 million) as well as 
existing shares held by private equity owner MBB  MBBG.DE , 
Aumann said in a statement. 
    People close to the matter had told Reuters last month that 
Aumann planned a stock market listing as the maker of parts for 
electric engines sought cash for its expansion.  urn:newsml:reuters.com:*:nL5N1F830I 
    Two sources said on Monday that the IPO of Aumann, which 
makes coil winding machines used in the production of electric 
vehicles, was to raise a total of 200 to 250 million euros. 
    It would be the first flotation of the year in Frankfurt 
after AlzChem scrapped plans earlier this month.  urn:newsml:reuters.com:*:nASM0009CQ 
    MBB, which currently owns 93.5 percent of Aumann, will 
remain majority shareholder after the IPO, Aumann said. Between 
40 and 47 percent of the stock will be freely traded. 
    Flotations commonly occur in Germany around four weeks after 
a company issues its intention to float, which means Aumann's 
IPO is likely to come before the Easter holidays in April. 
    Berenberg and Citigroup  C.N  are acting as Joint Global 
Coordinators in the IPO and, together with Hauck & Aufhaeuser, 
as Joint Bookrunners. 
    ($1 = 0.9445 euros) 
 
 (Reporting by Maria Sheahan and Alexander Huebner; Editing by 
Victoria Bryan) 
 ((maria.sheahan@thomsonreuters.com; +49 69 7565 1286; Reuters 
Messaging: maria.sheahan.thomsonreuters.com@reuters.net)) 
 
Keywords: AUMANN IPO/