Thyssenkrupp slides as Cevian sells 43m shares
Thyssenkrupp Ag
€3.20
16:30 07/11/24
0.00%
-€0.00
Thyssenkrupp shares slumped on Tuesday after Swedish investment firm Cevian Capital sold 43m shares in the engineer and steel producer in a placing.
Cboe DEM 50
19,284.63
16:30 07/11/24
0.78%
148.31
According to Refinitiv news service IFR, the shares were placed by UBS and launched with guidance of between €10.20 and €11.29 a share, resulting in proceeds of around €439m to €485m.
A spokesman for Cevian confirmed to the Wall Street Journal that it had reduced its stake in Thyssenkrupp to around 7.9% from 15%.
At 0930 GMT, the shares were down 5.3% at €10.69.