JOST FSE IPO

Overview:

• JOST has undertaken an IPO via private placement on the Frankfurt Stock Exchange.
• JOST is a leading global producer and supplier of safety-critical systems to the truck and trailer industry.
• JOST intends to use the net proceeds to repay existing debt as well as for general corporate purposes.
• The company previously shelved plans for a flotation due to wobbly capital markets.
• In total, 4,875,000 newly issued ordinary bearer shares from a capital increase and 2,575,000 existing ordinary bearer shares from the holdings of JOST’s existing shareholder have been placed with institutional investors.
• In addition, 1,117,500 ordinary bearer shares have been made available from the holdings of Jost’s existing shareholder in connection with an over-allotment.
• Based on the final offer price of €27 per share, the company is valued at €402 million.
• Deutsche Bank, Commerzbank, JPMorgan and BNP Paribas acted as bookrunners.
• Rothschild acted as financial adviser to JOST.

Patrick Martinez-Brown - Journalist