Jenoptik shares shine in German debut
Article Abstract:
Jenoptik AG's initial public offering in German stock exchanges performed very well as the East German-based technology group's shares first traded at 49.5 marks or $27.34 each in Dusseldorf, GE, compared to its issue price of 34 marks. Several hours later, the firm's official price on the Frankfurt Stock Exchange reportedly reached 45.30 marks. Fifty percent of the IPO's total volume was reserved for individual investors which traded at nearly 30 times greater than the 22.7 million shares listed on both exchanges. The trading rewarded Jenoptik with proceeds of roughly 770 million marks. The German state of Thuringia will receive around 500 million marks of the amount.
Comment:
Initial public offering in German stock exchanges performs very well
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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BMW restructuring of its Rover unit gets mixed reviews
Article Abstract:
Bayerische Motoren Werke AG's (BMW) decision to restructure its Rover Group unit based in the UK has received mixed review from analysts in Germany and other countries. German analysts are telling investors to be more cautious in buying BMW shares, suggesting that investors should wait for more evidence a turnaround has taken place before investing in BMW stock. Analysts outside Germany, on the other hand, are suggesting that the restructuring of the Rover Group unit will result in an improved performance of BMW stock.
Comment:
Its decision to restructure Rover Group unit receives mixed review from analysts in Germany and other countries
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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Metallgesellschaft shares soar on plans to buy GEA
Article Abstract:
Metallgesellschaft AG's purchase of GEA AG emphasized the company's strategy change. Metallgesellschaft is switching its strategy from raw materials to techonology. The proposed deal caused the company's share price to rise to 18 euros ($20.27). GEA will be purchased and integrated by Metallgesellschaft in two phases. The first phase involves Metallgesellschaft's purchase of 74.9% GEA from Guyerzeller Bank AG.
Comment:
Metallgesellschaft to buy GEA for 18 euros ($20.27) per share
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1999
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