Deutsche Börse welcomes automotive supplier in Prime Standard/ Total issue volume of €937.5 million
Schaeffler AG has been listed in the Prime Standard of the Frankfurt Stock Exchange since 9 October. A total of 75 million shares were placed in the IPO. The total issue volume was approximately €937.5 million. The initial listing price was €13.50; the issue price €12.50.
The IPO was accompanied by Deutsche Bank AG and Citigroup. Deutsche Bank and HSBC act as designated sponsors on Xetra. Oddo Seydler has the role of the specialist on the Börse Frankfurt venue.
According to information provided by the company, Schaeffler is a supplier for automotive and industrial products. With around 84,000 employees worldwide it is one of the world's largest technology companies in family ownership and has approximately 170 locations in 50 countries, with a worldwide network of manufacturing locations, research and development facilities and sales companies. Schaefflers’ high-precision products can be found in automobile drive trains, high-speed trains, wind turbines, and innovative solutions for aviation and aerospace applications. The company generated sales for approximately €12.1 billion in 2014.