Varta AG (ISIN: DE000A0TGJ55) was listed in the Prime Standard of the Frankfurt Stock Exchange, Deutsche Börse announced earlier today.
8.6 million new shares were placed during the IPO. The initial listing price was €24.25, the issue price €17.50.
The issue’s lead manager was Berenberg, UniCredit Bank acted as Joint Bookrunner. Berenberg also has the role of a designated sponsor for Xetra trading. Baader Bank serves as specialist on the Börse Frankfurt venue.
As the parent company of the Group, VARTA AG is active in the business segments Microbatteries and Power & Energy through its operating subsidiaries VARTA Microbattery GmbH and VARTA Storage GmbH. According to company information, Varta Microbattery GmbH is an innovation leader in the microbattery sector and one of the market leaders for hearing-aid microbatteries.
VARTA Storage GmbH focuses on intelligent energy solutions for customized battery storage systems for OEM customers and the design, system integration and assembly of stationary lithium-ion energy storage systems. The VARTA AG Group’s operating subsidiaries are currently active in more than 75 countries around the world.