MUNICH (dpa-AFX) - Wacker Chemie has reduced its stake in Siltronic more aggressively than initially planned. The company announced on Wednesday in Munich that 2.1 million Siltronic shares were placed at a price of 89.35 euros each. The specialty chemicals group generated gross proceeds of 188 million euros from the sale. The placement represented 7 percent of Siltronic's share capital, exceeding the previously announced volume. Following the divestment, Wacker's holding in Siltronic has dropped from 31 percent to 24 percent. However, the specialty chemicals group stated it remains the largest shareholder in the wafer manufacturer.

On the Tradegate trading platform, Siltronic shares fell 4.6 percent to 92.63 euros compared to the Xetra closing price. Prior to this, the stock had nearly doubled in value since the beginning of the year. Wacker Chemie shares continued their decline on Wednesday morning, slipping a further 1.2 percent./lew/stw