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KION GROUP AG (ISIN: DE000KGX8881) joined the Prime Standard of the Frankfurt Stock Exchange on 28 June. The placement volume in shares at the IPO totalled approximately 19.81 million (including an over-allotment of about 2.58 million shares). The placement price was €24.00 and the initial listing price €24.19.
Goldman Sachs International and KKR are the lead managers. Deutsche Bank AG and equinet Bank AG are acting as the designated sponsors, while the specialist is Wolfgang Steubing AG.
“We are delighted that KION GROUP AG has chosen Frankfurt for its IPO. The Prime Standard represents the highest transparency requirements in the whole of Europe and is aimed at all companies looking to position themselves on the international stage too,” said Dr Martin Reck, Cash Market Managing Director at Deutsche Börse.
“This IPO will strengthen our capital structure for the long term, enabling us to continue along our global growth path with greater scope and drive,” said Gordon Riske, CEO of KION GROUP AG.
According to company information, KION GROUP AG with its six brands Linde, STILL, Fenwick, OM STILL, Baoli und Voltas, is European market leader for industrial trucks, world number 2 in the sector and a leading foreign supplier in China. The company generated revenue of €4.73 billion in financial year 2012 with a workforce of more than 21,000. It is represented in over 100 countries and has a world market share of around 15 percent.
