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KTM SELF-DISTANCES FROM AUSTRIAN ROOTS

Pierer Mobility, formerly known as KTM Industries and parent of the KTM, Husqvarna and GasGas motorcycle brands, has set a date for dumping its euro-denominated domestic share listing on Austria’s Weiner Börse. BDN financial editor Roger Willis reports.

After signalling an intention to follow such a course some months ago, Pierer submitted a formal application to delist. Stock exchange authorities in Vienna subsequently agreed to revocation of trading in its shares on 22 June and Pierer Moblity as an indigenous listed public entity will now finally disappear from Austria on 30 September.

The move will leave it with a sole eurozone listing on the much larger Börse Frankfurt in Germany. In addition, Pierer stock retains a parallel trading presence on Switzerland’s SIX exchange in Zurich, denominated in Swiss francs.

This inevitably begs the question of where the business will actually be domiciled. The bulk of Pierer’s European bike manufacturing activity is centred in the Austrian town of Mattighofen, north of Salzburg and conveniently close to the German border. However, its corporate headquarters is about 70km further east at Wels.

Whether Pierer Mobility’s official HQ will stay there is a matter for conjecture. The company already has a research and development facility in Germany and could migrate in that direction. But eponymous supremo Stefan Pierer may prefer relocating to Switzerland for tax-efficiency purposes.  

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