Hensoldt, a German military supplier, has announced plans to increase its share capital by 10%. This move is part of the company's strategy to support its expansion efforts and finance recent acquisitions. The share capital increase will be achieved through the issuance of new ordinary bearer shares against cash contributions.
Private Placement for Institutional Investors
The company revealed that the new shares will be available for purchase exclusively to institutional investors. These investors will have the opportunity to participate in a private placement through an accelerated bookbuilding process. Hensoldt aims to ensure that this capital raise is successful by targeting a specific group of investors who can provide the necessary support for its growth plans.
German Government's Commitment
Highlighting the significance of this capital raise, Hensoldt mentioned that the German federal government has committed to participating in the increase pro-rata to its current shareholding of 25.1%. This commitment from the government reinforces the confidence in Hensoldt's capabilities and growth potential in the defense sector.
Expected Timeline
Hensoldt anticipates that the new shares will be admitted to trading on the Frankfurt Stock Exchange by Tuesday. Subsequently, trading of these shares is expected to commence on Wednesday. This timeline provides a clear roadmap for interested parties to participate in Hensoldt's share capital increase.
Funding Acquisition of ESG Elektroniksystem- und Logistik GmbH
The capital raised through this initiative will be used to partially finance Hensoldt's recent acquisition of ESG Elektroniksystem- und Logistik GmbH, a leading German defense systems integrator. By leveraging the funds raised, Hensoldt aims to facilitate its growth strategy and further solidify its position in the defense industry.
PREVIOUS POST
