Capital News
As the market had foreseen, Munich Re has announced its intention of buying back shares. The management board of this re-insurance market leader has made its decision and a transaction proposal could be put to the vote during the upcoming shareholders’ meeting set for 30 April 2014. This would authorise the company to buy back up to 11 million of its own shares in the period between 24 April and26 April, 2016 for the original purchase price (no accessory costs)up to a maximum amount of one thousand million Euros. The breakdown corresponds to 5.2 shares or3.1 percent of share capital. Last February, CFO Jörg Schneider had led investors into hoping for a share buy-back. The transactions relating to shares purchased within the 2014-5 buy-back programme have to be concluded before the shareholders’ meeting set for April 23. Equity capital not taken up will be withdrawn.
Siltronic: Semiconductors in the stock exchange?
Wacker Chemie AG is weighting up its options for the future, including separating from its subsidiary company Siltronic. According to the company also under consideration is the idea of a strategic partnership with other companies as well as stock acquisition by a strategic investor. The spin-off, however, has not yet been decided on. The company is also contemplating a stock exchange flotation. The fourth quarter turnover of the wafer business was up on the same period of the previous year, from 175 million to 223 million Euros, thanks to stability in dealings in silicon for semiconductors and solar panels. The idea of separation is being contemplated as a response to Siltronic’s need for substantial capital and as a means of obtaining more resources to invest in other fields.
Sixt: uncoupling the leasing business
Vehicle hire concern Sixt SE is considering having its leasing business listed on the stock exchange. In 2013, the Sixt Leasing AG subsidiary invoiced approximately 546 million Euros, almost a third of the total group turnover. By being listed, the Leasing subsidiary could strengthen its capital base by equity capital and continue to grow financially independently from the vehicle hire business and the parent company Sixt SE. If exchange listing were to occur, Sixt would still wish to keep hold of a substantial percentage of its stake in the leasing company.
Nanogate: soldi per maggiori capacità
An increase of capital carried out by innovative surface specialist Nanogate AG yielded some 11.6 million Euros. Excluding option rights, the Entry Standard-listed company placed 297,843 new shares with institutional investors. The shares were priced at 39 Euros each and the company’s share capital rose from 3 million to more or less 3.3 million, with the increase being oversubscribed. The company has earmarked the fresh money to expand its technological portfolio and fund the expansion of its skills and promote growth.