“Demand for our shares was excellent. This not only confirms our attractive business model and our operating strength, but also shows that our shares still have potential. We hope that our higher free float will have positive effects on daily trading in, and turnover of, our shares, and that it will strengthen the stock’s position in a number of indices. All in all, we have now laid the foundations for more investors to invest in our shares”, said Dr Jan Wicke, the Talanx Group’s CFO.
A total of 6,504,064 shares with a value of approx. EUR 400 million were sold to institutional investors in Europe and the USA in particular. The placement price was EUR 61.50 per share.
The Company will receive gross proceeds of approx. EUR 300 million from the capital increase.
The funds will also further enhance the already solid capitalization of the Group to support further organic and inorganic growth in line with the disciplined approach for the execution of strategic acquisitions.
Talanx is also reaffirming its earnings guidance for the current year and its medium-term goals, also on the basis of the increased equity base going forward. This applies in particular to the target dividend payments to shareholders. Talanx continues to plan to pay its shareholders a dividend of more than EUR 2.00 per share for the financial year 2023. The expected positive effects in relation to the recent acquisition of Liberty Mutual in Latin America are not yet reflected in these medium-term-goals, which are set to achieve a profit of EUR 1.6 billion by 2025.
Berenberg acted as Sole Global Coordinator and Sole Bookrunner for the share placement.
