May 22, 2017 / 8:36 PM / 3 months ago

UPDATE 1-Kion raises 603 mln eur to partly refinance Dematic deal

(Recasts with placing price)

BERLIN, May 22 (Reuters) - German forklift truck and robotics maker Kion raised 602.9 million euros ($677 million) by issuing 9.3 million new shares to partly refinance its $2.1 billion acquisition of Dematic in 2016.

The new shares, equivalent to 8.55 percent of its capital, were issued at a price of 64.83 euros each, Kion said in a statement late on Monday.

Major shareholder Weichai Power acquired around 4.02 million of the new shares to keep its shareholding stable at around 43 percent, the company said in a statement.

Kion's shares closed on Monday at 65 euros. ($1 = 0.8899 euros) (Reporting by Victoria Bryan, editing by Thomas Escritt)

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