Tag: IPO

Pirelli IPO marks landmark in new ownership structure

Pirelli IPO marks landmark in new ownership structure

Monday 4th December 2017 | 0 Comments

If Pirelli’s sale to the ChemChina-led consortium in 2015, along with the legal and integration work in 2016 wasn’t enough, 2017 is proving to have been another complex and busy year for Pirelli. The last 12 months have seen the company pass two key landmarks in its post-acquisition strategy: the separation of the industrial tyre business (including industrial, truck, OTR and agricultural operations) into the new Prometeon Tyre Group in the first part of year; and the successful re-listing of the Pirelli in the autumn. The latest news is that Pirelli’s major shareholder – Marco Polo International - has increased its shareholding in Pirelli following the IPO by exercising a greenshoe option.

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Reports: Pirelli IPO set for October

Wednesday 6th September 2017 | 0 Comments

Pirelli is set sell up to 40 per cent of its equity capital in an initial public offering (IPO) on the Milan stock exchange in October.

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Uniwheels for sale? Controlling shareholder assessing “strategic options”

Uniwheels for sale? Controlling shareholder assessing “strategic options”

Thursday 6th October 2016 | 0 Comments

A sharp dip in the Uniwheels AG share price was reversed on the afternoon of 4 October after the company informed the Warsaw Stock Exchange (WSE) about its controlling shareholder’s decision to “assess its strategic options.” Uniwheels Holding (Malta) Ltd., a holding company owned by former Uniwheels chief executive officer Ralf Schmid and his brother Michael, is currently “at an initial stage” with its assessment, reported the German alloy wheel manufacturer.

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Triangle IPO underway

Monday 19th September 2016 | 0 Comments

Triangle Tire’s initial public offering (IPO) got underway as planned on 9 September with the company becoming a public traded entity on the Shanghai Stock Exchange. The listing became active 10 September 2016 following approval by the China Securities Regulatory Commission (CSRC) on 19 August 2016.

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Triangle to upgrade PCR and TBR production with IPO funds

Tuesday 23rd August 2016 | 0 Comments

Following yesterday’s confirmation that Triangle is going ahead with the initial public offering (IPO) on the Shanghai stock exchange the company planned last year, the company has revealed a number of other key details.

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Triangle IPO on for early September

Monday 22nd August 2016 | 0 Comments

The China Securities Regulatory Commission (CSRC) approved Triangle Tires’ most recent initial public offering (IPO) bid. Qingdao, Shandong Province-based tyre manufacturer Triangle was one of 13 firms to receive a CSRC go-ahead on Friday 19 August. The IPO is set to take place in Shanghai. An official IPO announcement is expected in September.

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Linglong market value exceeds RMB 50 billion

Linglong market value exceeds RMB 50 billion

Friday 22nd July 2016 | 0 Comments

When the Shandong Linglong Tire Co., Ltd. IPO went live on 6 July and the tyre maker’s shares became available on the Shanghai Stock Exchange, their value increased by 44 per cent on the first day. The company reports that by 19 July the total market capitalisation in Linglong Tire had reached RMB 50.508 billion (£5.7 billion), giving the company the top ranking from 33 ‘A’ share (mainland China-based) listed companies in Yantai, the number three spot amongst ‘A’ listed companies in Shandong and 128th position in China as a whole.

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Linglong IPO attracts 2000x more interest than offer

Thursday 23rd June 2016 | 0 Comments

On 21 June Shandong Linglong Tyre Co Ltd announced it would issue 200 million shares of common stock at 12.98 yuan per share as part of its initial public offering (IPO) on the Shanghai Stock Exchange. At the time, the company said it expected to raise roughly 2.60 billion yuan, which various news sources suggest is intended to fund investment in new tyre production lines.

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Triangle Tire gains IPO approval

Triangle Tire gains IPO approval

Friday 8th January 2016 | 0 Comments

Approval has been given for the long-anticipated Triangle Tire Co Ltd. initial public offering. The Shanghai Stock Exchange disclosed on 6 January that the go-ahead was granted at the meeting of the exchange’s Issuance Examination Committee held earlier that day.

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Schaeffler cuts IPO following VW scandal

Monday 12th October 2015 | 0 Comments

In what is being interpreted as fallout of the Volkswagen (VW) emissions scandal, Schaeffler significantly reduced its initial public offering (IPO) after delaying in light of the VW revelations. VW accounts for more than 10 per cent of sales at Schaeffler, which makes ball bearings for products ranging from tools to airplanes.

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Up to 25% share in Schaeffler to be sold through IPO

Up to 25% share in Schaeffler to be sold through IPO

Monday 21st September 2015 | 0 Comments

Continental AG majority shareholder and automotive industry supplier Schaeffler today announced its intention to place up to 166 million new and existing non-voting common Schaeffler AG shares with institutional investors and to list these on the Prime Standard segment of the Frankfurt Stock Exchange’s regulated market. The proceeds of this initial public offering will be used to reduce debt within both Schaeffler AG and Schaeffler Holding.

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Uniwheels profit up 67% in H1 2015

Uniwheels profit up 67% in H1 2015

Friday 14th August 2015 | 1 Comment

Alloy wheel manufacturer Uniwheels AG reports sales of 3.9 million wheels in the first half of 2015, 11.3 per cent more than a year earlier and a record first-half volume. This gave the company revenues of €217.0 million, a year-on-year increase of 26.8 per cent. EBITA rose 30.2 per cent in the January to June period to €27.9 million and the margin increased from 12.5 to 12.8 per cent. Net profit rose 66.9 per cent to €19.3 million.

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Uniwheels approves IPO share allotment

Wednesday 29th April 2015 | 0 Comments

Wheel manufacturer Uniwheels AG has approved the allotment of 4,800,000 shares in a public offering, including 2,400,000 new shares from a share capital increase and 2,400,000 existing shares from the holding of existing shareholder Uniwheels Holding (Malta) Ltd. . Five per cent, or 240,000 of the shares offered have been allocated to retail investors and 4,560,000 (95 per cent) to institutional investors.

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Uniwheels proceeding with IPO and Warsaw Stock Exchange listing

Thursday 16th April 2015 | 0 Comments

Uniwheels AG says it is proceeding with plans for a public offering and it will apply for listing and trading of the company’s shares on the Warsaw Stock Exchange. Plans are to conduct the offering in the second quarter of 2015, however the wheel manufacturer comments that the exact date will depend on market conditions.

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Is Schaeffler considering another Conti share purchase?

Thursday 22nd January 2015 | 0 Comments

Schaeffler, the family-run ball-bearing maker and largest shareholder in Continental AG, is reportedly considering a multi-billion euro IPO for its ball-bearing business in what could be a prelude to a further purchase of Conti shares. The Wall Street Journal (WSJ) has led coverage of the recent financial manoeuvres between Conti and Schaeffler, however financial analysts and other commentators lend credence to the view that purchasing Conti stock could be the endgame.

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