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Uniwheels for sale? Controlling shareholder assessing “strategic options”

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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

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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

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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

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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

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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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  1. Linglong IPO attracts 2000x more interest than offer
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  3. Triangle to upgrade PCR and TBR production with IPO funds
  4. Triangle IPO underway
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Linglong IPO attracts 2000x more interest than offer

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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

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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

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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

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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

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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  3. Uniwheels for sale? Controlling shareholder assessing “strategic options”
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Uniwheels approves IPO share allotment

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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  4. Uniwheels for sale? Controlling shareholder assessing “strategic options”
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Uniwheels proceeding with IPO and Warsaw Stock Exchange listing

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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  1. Uniwheels approves IPO share allotment
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  3. Uniwheels profit up 67% in H1 2015
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Is Schaeffler considering another Conti share purchase?

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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Orion Engineered Carbons filing for US$300 million IPO

Orion Engineered Carbons Holdings Gmbh, which makes carbon black for printing and tyres, filed for a US initial public offering (IPO) worth US$300 million, according to document submitted to the American securities and exchange commission. The Frankfurt-based company, which used to be owned by Evonik, was acquired by private equity firms Rhone Capital LLC and Triton Advisers for $1.2 billion in 2011. Orion reported revenue of $1.8 billion last year.

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Former Tesco boss Leahy joins Blackcircles board

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Former Tesco chief executive Sir Terry Leahy has been appointed to the board of Blackcircles.com. Leahy has been a shareholder in the online tyre business for around six years and his stake in Blackcircles is now said to be 25 per cent. In his new role, Leahy will work with company founder and chief executive Mike Welch and chairman Graeme Bisset to identify and implement new means of financing ongoing growth within the business. One option that Leahy may be closely involved in is an IPO.

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