The electronics company from Munich is planning its debut on the stock market in early May. The proceeds will be used to finance further growth.
Dhe Katek’s IPO is in the starting blocks. The electronics company announced on Thursday the price range for the shares on offer at EUR 21 to EUR 26. Depending on the placement price, the company wants to raise EUR 83 to 103 million with the IPO, announced the Katek in Munich. The final issue price is expected to be set on April 28th. The first listing in the strictly regulated Prime Standard of the German stock exchange is planned for May 4th. The IPO is organized by the private bank Hauck & Aufhäuser.
Katek will receive between 72 and 89 million euros as gross issue proceeds. The money should be invested in growth. The planned offer consists of a good 3.4 million shares from a capital increase, as well as an over-allotment option (“greenshoe”), consisting of almost 515,000 shares from the holdings of the main shareholders. The management with a share ownership of 4.5 percent does not sell any shares, it said. The main shareholders Primepulse and Grosso Tec AG with a cumulative shareholding of 91 percent will only sell shares to provide the over-allotment option. The aim with the IPO is a free float of 29 to 33 percent.
The Katek Group claims to be one of the fastest growing electronics companies in Europe. It offers software and hardware development, prototyping and the production of high-quality electronics. The products are used in electromobility, renewable energies and medical technology. In 2020, around 2,600 employees generated a total of 414 million euros. The namesake and core of Katek is a former subsidiary of the Rosenheim antenna manufacturer Kathrein, which Primepulse took over three years ago.