- Placement of 57,500,000 shares (including over-allotments)
- Free float of 11.50% if greenshoe option is fully exercised
- Volkswagen AG to remain committed majority shareholder
- First day of trading on June 28, 2019 on the Frankfurt Stock Exchange and Nasdaq Stockholm
Munich, June 27, 2019 – The placement price for the shares of TRATON SE (“TRATON”) has been set at EUR 27.00 per share (the placement price of EUR 27.00 corresponds to SEK 284.70 as calculated based on the EUR/SEK exchange rate at 12:00 p.m. (noon) CEST on the last day of the offer period (June 27, 2019) as displayed on the Bloomberg website under www.bloomberg.com/quote/EURSEK:CUR) by Volkswagen AG in coordination with TRATON and the advising banks. In total, 57,500,000 existing ordinary bearer shares from the holdings of Volkswagen AG are being placed with investors (including 7,500,000 shares to cover over-allotments).
Andreas Renschler, CEO of TRATON and member of the Board of Management of Volkswagen, said: “The IPO of TRATON has reached the finishing line. Investor feedback on TRATON during the roadshow was very positive. With the pricing now in place, TRATON is ready for tomorrow’s listing of its shares.”
Christian Schulz, CFO of TRATON, said: “Finishing the IPO in the current market environment, despite the volatility, proves TRATON right. We have gained the trust of investors and we will work very hard to build on that trust.”
Assuming full exercise of the greenshoe option, the free float will be 11.50% of TRATON’s share capital. Volkswagen will remain a committed majority shareholder. Based on the placement price, TRATON’s market capitalization amounts to EUR 13.5 billion.
TRATON shares are scheduled to begin trading on the regulated market (regulierter Markt) of the Frankfurt Stock Exchange (Prime Standard) and the regulated market (reglerad marknad) of Nasdaq Stockholm (Large Cap Segment) under the ticker symbol 8TRA on June 28, 2019. The International Securities Identification Number (ISIN) is DE000TRAT0N7, and the German Securities Code (WKN) is TRAT0N.
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Sebastian Rausch Financial Media Relations
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TRATON SE is a subsidiary of Volkswagen AG and a leading commercial vehicle manufacturer worldwide with its brands MAN, Scania, Volkswagen Caminhões e Ônibus, and RIO. In 2018, TRATON GROUP’s brands sold around 233,000 vehicles in total. Its offering comprises light-duty commercial vehicles, trucks, and buses manufactured at 29 production and assembly sites in 17 countries. The Company had a workforce of around 81,000 employees worldwide across its commercial vehicle brands as of December 31, 2018. The Group seeks to transform the transportation system through its products, its services, and as a partner for its customers.
This announcement does not contain or constitute an offer of, or the solicitation of an offer to buy or subscribe for, securities. The securities have already been sold.
This release is not an offer of securities for sale in the United States of America. Securities may not be offered or sold in the United States of America absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended (the “Securities Act”). Any public offering of securities to be made in the United States of America would be made by means of a prospectus that could be obtained from TRATON SE and that would contain detailed information about the company and management, as well as financial statements. There was and will be no public offer of the securities in the United States of America.
Subject to certain exceptions, the securities referred to herein may not be offered or sold in Australia, Canada, Japan or South Africa or to, or for the account or benefit of, any national, resident or citizen of Australia, Canada, Japan or South Africa.
This document is not a prospectus for the purposes of Directive 2003/71/EC, as amended by Directive 2010/73/EU, and as such does not constitute an offer to sell or the solicitation of an offer to purchase shares of TRATON SE. The offer period for the securities has already ended.
This announcement is directed at and/or for distribution in the United Kingdom only to (i) persons who have professional experience in matters relating to investments falling within article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”) or (ii) high net worth entities falling within article 49(2)(a) to (d) of the Order (all such persons are referred to herein as “relevant persons”). This announcement is directed only at relevant persons. Any person who is not a relevant person should not act or rely on this announcement or any of its contents. Any investment or investment activity to which this announcement relates is available only to relevant persons and will be engaged in only with relevant persons.