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BRIEF-Sany Group looks to sell down stake in Palfinger via placing
September 28, 2017 / 4:04 PM / 3 months ago

BRIEF-Sany Group looks to sell down stake in Palfinger via placing

Sept 28 (Reuters) - PALFINGER AG: BOOKRUNNER:

* LAUNCH OF ACCELERATED BOOKBUILDING BY SANY EUROPE TO INSTITUTIONAL INVESTORS OF UP TO 900,000 SHARES IN PALFINGER‍​

* PLACING SHARES REPRESENT UP TO ABOUT 2.4 PCT OF CO‘S ISSUED SHARE CAPITAL AND ABOUT 24 PCT OF SELLER‘S HOLDING IN CO

* BOFA MERRILL LYNCH WILL BE ACTING AS SOLE BOOKRUNNER IN THE TRANSACTION

* FOLLOWING DEAL COMPLETION, SELLER WILL HOLD AT LEAST C. 2.9 MLN SHARES IN PALFINGER, AT LEAST 7.5 PCT OF COS’ SHARE CAPITAL

* PLACEMENT PRICE IS SUBJECT TO AGREEMENT BETWEEN BOFA MERRILL LYNCH AND THE SELLER AT THE CLOSE OF THE BOOKBUILDING PROCESS Further company coverage:

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