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ERGO sells stake in Jenoptik

  • Around 4.88 million shares with a value of over 60 million euros placed
  • Strong demand from institutional investors in Germany and abroad
  • Shareholder base widened: free float of the technology group at 75 percent
The longstanding major shareholder of JENOPTIK AG, ERGO Versicherungsgruppe, has sold its approximately 8.5 percent stake in Jenoptik to institutional investors in Germany and abroad. Due to strong demand, the total of around 4.88 million shares in JENOPTIK AG were swiftly and fully placed on the evening of April 2, 2014 at a price of 12.15 euros per share by means of an accelerated book building process. The sole bookrunner was UBS.

ERGO Versicherungsgruppe, which had held a stake in the company for over ten years, holds no Jenoptik shares following the sale. “The very good work of the management had a positive effect on the share price development which we used for an exit. We are convinced that JENOPTIK AG will continue to succeed in the market with its business model,” says Dr. Daniel von Borries, member of the Board of Management of ERGO and responsible for investments. ECE Industriebeteiligungen mbH and Thüringer Industriebeteiligungs GmbH & Co. KG remain the largest shareholders with stakes of 14.01 percent and 11.0 percent respectively.

“This successful and above all rapid placement showed us that investors are impressed by our economic strength, our medium-term objectives and our sustainable strategy. It demonstrates institutional investors’ confidence in Jenoptik. The widening of the shareholder base also gives us the opportunity to improve the tradability of the share and thus further improve its perception on the capital market,” says Rüdiger Andreas Günther, Chief Financial Officer of JENOPTIK AG.

About Jenoptik

As an integrated optoelectronics group, Jenoptik divides its activities into five divisions: Lasers & Material Processing, Optical Systems, Industrial Metrology, Traffic Solutions and Defense & Civil Systems. Its customers around the world mainly include companies in the semiconductor equipment manufacturing industry, automotive and automotive supplier industries, medical technology, security and defense technology as well as the aviation industry. In addition to several major sites in Germany Jenoptik is represented in about 80 countries worldwide. JENOPTIK AG is listed on the Frankfurt Stock Exchange and included in the TecDax index. Jenoptik has approx. 3,430 employees and in 2013 generated sales of about 600 million euros.