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FREE-FLOATING SHARE INCREASE FOR KTM

KTM supremo Stefan Pierer has sold a tranche of his controlling KTM Industries stake, reports BDN financial editor Roger Willis. Some 15,884,217 shares representing about 7% of the company’s share capital were involved. Third-party shareholders added a further 1% (2,146,722 shares) to the disposal.

This combined offering took the form of an international private placement to qualified investors, handled by Bank Vontobel as sole lead manager, at 6.78 Swiss francs per share. The combined placement volume corresponded to about £93m in proper money changing hands.

Although KTM’s free float trading across Zurich’s SIX exchange and the Wiener Börse in Austria has therefore grown from 29% to 37% of capitalisation, Pierer still retains a dominant 63% holding in the business.

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