PIERER Mobility AG: €895m capital increase completed
As part of its ongoing efforts to reform its byzantine shareholding structure and make sense of Indian conglomerate Baja Auto's share in the ownership of KTM, PIERER Mobility has successfully completed the planned capital increase against contributions in kind in the amount of €895m (October 22nd, 2021).
As announced on September 29, 2021, PIERER Mobility AG, the listed parent company, has issued 11,257,861 new shares by means of a capital increase against contribution in kind. Only PTW Holding AG was admitted to subscribe, and in return it contributed its 46.5% stake in KTM AG to PIERER Mobility AG as a contribution in kind.
As a result of the transaction, the direct shareholding of PIERER Mobility AG in the operating KTM AG increased from approximately 51.7% to approximately 98.2%.
The share capital of PIERER Mobility AG increased by €11,257,861 from €22,538,674 to €33,796,535.
For more on the background to this story and the ongoing saga of the Pierer/KTM/Bajaj share structure, see our "Bunch of funky stuff" story on page 32 of the October/November edition of International Dealer News. All editions of IDN can be found here … www.idnmag.com
