International. The company Osram, a subsidiary dedicated to the lighting of the technological manufacturer Siemens, made an issue of shares on the German stock exchange, an operation that was well received by the market.
The company's shares had a primary cost of 24 euros. In order to carry out the operation, Siemens shareholders received one share of Osram for every ten shares they held as their first.
Since 2012, Siemens had been trying to issue Osram shares, but the difficult market situation had caused the transaction to be postponed several times.
The methodology chosen for this operation was a spin off, that is, the exchange of assets of one company for shares of a new one. In total, 80% of Osram's more than 100 million shares have been disclosed and nearly 20% will remain in the hands of Siemens and its pension funds.
The chairman of Osram, Wolfgang Dehen, said about this operation that the IPO meant a new chapter in the company's hundred-year history and opens up great opportunities for the future development of the company.
Osram's shares are trading on the Prime Standard segment of the Frankfurt Stock Exchange and managers expect it to be in the MDAX midsize index by the end of the year.
