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15 days ago
RPT-Jost shares offered at 25-31 EUR/shr in Frankfurt listing
July 12, 2017 / 7:44 AM / 15 days ago

RPT-Jost shares offered at 25-31 EUR/shr in Frankfurt listing

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FRANKFURT, July 12 (Reuters) - German truck and trailer parts maker Jost set the price range for its private share placement at 25 euros to 31 euros ($28.66-$35.54) a share, Jost said on Wednesday.

Based on the price range, Jost's market value would amount to approximately 381 million euros to 441 million euros, Jost said.

The private placement consists of up to 5.2 million newly issued ordinary bearer shares from a capital increase and up to 2.9 million existing ordinary bearer shares from the holdings of Cinven.

In addition, up to 1.1 million shares from the holdings of its existing shareholder may be placed with investors in connection with a potential over-allotment.

A listing would prove a positive turn for Cinven, which acquired a majority stake in Jost just weeks before the Lehman insolvency in 2008 and had to agree to a restructuring of the group's finances in 2010 to avert looming insolvency. ($1 = 0.8724 euros) (Reporting by Edward Taylor; Editing by Georgina Prodhan)

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