The shares can be subscribed to for four days starting Monday until March 19. The offering is being organized by investment banks JP Morgan, Berenberg, and BNP Paribas. With this sprint to the market, Vincorion follows the example of the Czech defense group CSG, which also brought its shares to the Amsterdam Stock Exchange at the beginning of the year at a fixed price and with a short subscription period.
"The path to the capital markets is a decisive milestone for Vincorion," said CEO Kajetan von Mentzingen. "And the great interest as well as the binding commitments from our cornerstone investors confirm our positioning within the security and defense sector." Vincorion already has firm orders for nearly a third of the shares offered. The fund companies Fidelity and Invesco, along with investor T. Rowe Price, intend to subscribe to shares totaling 105 million euros. Star Capital will retain a stake of nearly 60 percent.
Vincorion specializes in power supply and mechatronics for tanks and aircraft, such as generators for powering vehicles and air defense systems, heaters for aircraft, or stabilizers for tanks. Revenue last year stood at 240 million euros, more than double the figure from three years prior. Amid the rearmament in Europe, the company from Wedel, which employs 900 people, is sitting on an order backlog worth approximately 1.1 billion euros.
(Report by Alexander Hübner, edited by Ralf Banser. For inquiries, please contact our editorial office at berlin.newsroom@thomsonreuters.com (for politics and economics) or frankfurt.newsroom@thomsonreuters.com (for companies and markets).)
