ERGO Insurance Group sells its stake in Jenoptik

April 7, 2014
Jenoptik's longstanding major shareholder, ERGO Insurance Group, has sold its stake in the company—worth approximately 8.5 percent—to institutional investors in Germany and abroad.

Jenoptik's (Jena, Germany) longstanding major shareholder, ERGO Insurance Group (Düsseldorf, Germany), has sold its stake in the company—worth approximately 8.5 percent—to institutional investors in Germany and abroad. Due to strong demand, around 4.88 million shares in the company were placed on April 2, 2014, at a price of $16.70 (€12.15) per share by means of an accelerated book building process. The sole bookrunner was UBS Investment Bank.

Related: Jenoptik achieves revenue of 600M euros in FY2013

ERGO, which had held a stake in Jenoptik for over 10 years, holds none of the company's shares following the sale. ECE Industriebeteiligungen mbH and Thüringer Industriebeteiligungs GmbH & Co. KG remain the largest shareholders, with stakes of 14.01 and 11.0 percent, respectively.

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We edited the content of this article, which was contributed by outside sources, to fit our style and substance requirements. (Editors Note: Industrial Laser Solutions has folded as a brand and is now part of Laser Focus World, effective in 2022.)

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