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Major Stakeholder Divests from Jenoptik; Shares Snapped up by New Investors

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ECE Industrial Holdings GmbH has sold its approximately 10.48 percent stake in Jenoptik AG. Jenoptik said the roughly 6 million shares were purchased by other investors March 31 at a price of €11.90 per share – for a total of more than €70 million. The transactions were executed through an accelerated book-building process facilitated by UniCredit Bank AG. With a nominal capital of 57.2 million shares, Jenoptik’s free float will increase from 75 percent to 89 percent. The higher free float should improve tradability, raising Jenoptik's appeal to institutional...Read full article

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