Manz Launches Capital Increase to Fund Acquisitions

German engineering group Manz said on Tuesday it would issue 492,805 new shares, equivalent to 10 percent of existing share capital, in an accelerated bookbuilding to raise funds to further finance growth.

 

In addition, up to 100,000 shares from the holdings of the principal shareholder and Chief Executive Dieter Manz will be offered, the group said in a statement.

 

"Manz AG currently examines possible options to further strengthen its technology portfolio by potential acquisitions," Man said.

 

The placement is to start on Tuesday and is expected to be completed Wednesday, it said.

 

Bankhaus Lampe will act as Sole Global Coordinator and Sole Bookrunner for the capital hike, and equinet Bank will be Co-Lead Manager, it said.