German engineering group Aumann rise in stock market debut

MBB SE

24/03/2017 08:29

FRANKFURT, March 24 (Reuters) - German engineering group 
Aumann  AAGG.DE  rose 15 percent in its stock market debut on 
Friday, in the country's first initial public offering this 
year. 
    The maker of parts for electric car and bicycle engines 
reaped 63 million euros ($67.94 million) in proceeds from the 
sale of new shares, which it wants to spend on additional 
production capacity. 
    Private equity owner MBB  MBBG.DE  reduced its stake to 53.6 
from 93.5 percent in the flotation, which valued Aumann at 588 
million euros. It had bought Aumann only last year and merged it 
with its portfolio company Claas. 
    Aumann, founded in 1936 and specialising in winding 
technology needed in building electric motors, posted sales of 
156 million euros and an adjusted EBIT margin of 12.4 percent 
last year. 
    Berenberg, Citi  C.N  and Hauck & Aufhaeuser organised the 
deal. 
($1 = 0.9273 euros) 
 
 (Reporting by Arno Schuetze; Editing by Harro ten Wolde) 
 ((arno.schuetze@thomsonreuters.com; +49.69.7565.1197; Reuters 
Messaging: arno.schuetze.reuters.com@reuters.net)) 
 
Keywords: AUMANN IPO/