Manufacturer of brake systems listed in Prime Standard / initial price: €80.10
Knorr-Bremse AG (ISIN: DE000KBX1006) has been listed on the Frankfurt Stock Exchange since today, Deutsche Börse informed earlier. The shares of the Munich-based manufacturer of braking systems were listed in the Prime Standard and were quoted at €80.10 at the start of trading. The issue price was €80. Knorr-Bremse is one of the largest issues in Germany in recent years.
Deutsche Bank, J.P. Morgan and Morgan Stanley acted as joint global coordinators for the IPO and are also designated sponsors in Xetra trading. Baader Bank is the specialist on Börse Frankfurt.
According to Knorr-Bremse, it is the world market leader for braking systems and a leading supplier of other safety-critical systems for rail and commercial vehicles. The company employs around 29,000 people at over 100 locations in more than 30 countries worldwide, 80 per cent are working outside of Germany.