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  HOME | Business & Economy (Click here for more)

Knorr-Bremse Sets Final IPO Price at 80 per Share

MUNICH, Germany Knorr-Bremse AG said that it has set the final price for its initial public offering at 80 euros ($92.10) a share, valuing the company at up to 12.9 billion euros.

The automotive supplier, which plans to start trading in Frankfurt on Oct. 12, said late Wednesday it will place a maximum of around 48.4 million shares equivalent to a free float of 30 percent for a total offer volume of 3.9 billion euros.

Munich-based Knorr-Bremse manufactures braking systems for rail and commercial vehicles and reported sales of 6.15 billion euros in 2017.

 

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